According to @EmberCN, Bitmine bought 96,798 ETH last week (about $283M), bringing total holdings to 3.726M ETH (about $10.52B); source: @EmberCN (X, Dec 1, 2025). Their blended ETH cost basis is $3,960 with an unrealized loss of $4.22B (-28.6%), implying an approximate spot near $2,830 from the stated drawdown; source: @EmberCN (X, Dec 1, 2025). The weekly add equals roughly 2.6% of their stack (96,798 of 3,726,000), making $3,960 a clear breakeven reference level for whale-flow tracking; source: @EmberCN (X, Dec 1, 2025).