Ethereum Whale Takes Profits by Liquidating ETH Holdings

By: crypto insight|2026/01/12 22:30:05

Key Takeaways

A longstanding Ethereum whale has liquidated its final 26,000 ETH on the Bitstamp exchange.
The whale initially accumulated 101,000 ETH at an average purchase price of $660 per token.
By selling the holdings at an average price of $3,313 per ETH, the whale realized a net profit of $269 million.
This transaction underscores the strategic accumulation and disposal capabilities within the cryptocurrency market.

WEEX Crypto News, 12 January 2026

In a move that has drawn significant attention from the cryptocurrency community, a seasoned Ethereum investor, often referred to as a “whale,” has recently liquidated its entire holding of ETH. The whale transferred the remaining 26,000 ETH to the exchange Bitstamp, culminating in a sale that reflects a strategic disposition of assets accumulated over the past half-decade.

Details of the Ethereum Liquidation

Five years ago, this Ethereum whale embarked on a substantial investment strategy, accumulating 101,000 ETH with an average entry cost of $660 per token. This strategic purchase laid the groundwork for a calculated long-term hold, which came to fruition as the whale sold its holdings at an average price of $3,313 per ETH. The realization of $269 million in profit marks a pinnacle in the whale’s trading journey, showcasing an adept understanding of market cycles and timing.

The transaction not only highlights the profitability potential within the cryptocurrency space for strategic investors but also serves as a testament to the long-term value retention capacity of Ethereum. As Ethereum continues to position itself as a significant player in the cryptocurrency arena, instances such as this underscore its viability as a long-term asset.

Whale Activity and Market Impact

The recent sell-off by this Ethereum whale has inevitably stirred discussions regarding the impact such large-scale transactions have on the broader market. Whales, known for holding substantial amounts of cryptocurrency, possess the power to influence market liquidity and price action. However, well-timed and strategic dispersions like this can mitigate potential volatility, ensuring market stability despite the magnitude of the transaction.

While the sale of 26,000 Ethereum tokens is significant, the market has absorbed these sales, reflecting the matured state of Ethereum’s liquidity and market robustness. The presence of institutional-sized activities maintains a steady demand, counterbalancing the potential downward pressure such sales might exert on prices.

-- Price

Ethereum’s Strategic Emergence

The events surrounding this transaction echo a broader narrative within the Ethereum network and the cryptocurrency market at large. Ethereum’s evolution, driven by projects like staking and upgrades such as EIP-1559, has fortified its position as a preferred choice for long-term holders focusing on yield generation and appreciating intrinsic value.

The institutional interest that Ethereum attracts continues to demonstrate confidence in its long-term application potential and narrative as a major player in the digital asset space. Strategic transactions by influential market participants, such as the whale in this instance, further solidify Ethereum’s role as a cornerstone of blockchain technology and its associated financial ecosystems.

The Role of Bitstamp in the Transaction

Bitstamp, one of the world’s long-standing and reputable cryptocurrency exchanges, played a pivotal role in this transaction. Known for its robust infrastructure and high liquidity, Bitstamp serves as a preferred platform for executing large deals while minimizing the impact on market prices. The decision to utilize Bitstamp underscores the exchange’s continued relevance in facilitating significant market transactions.

Traders considering engaging with the cryptocurrency market can take advantage of platforms offering the right blend of security, liquidity, and user-centric services. Bitstamp remains at the forefront of these offerings, catering to both individual investors and institutional clients alike.

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FAQs

What is a crypto whale?

A crypto whale refers to an individual or organization that holds large amounts of cryptocurrency. Their substantial holdings can potentially influence market prices and liquidity.

How did the Ethereum whale profit from its holdings?

The Ethereum whale profited by purchasing 101,000 ETH at an average price of $660 and later selling them at an average price of $3,313, resulting in a net gain of $269 million.

Why did the whale choose to use Bitstamp for the sale?

Bitstamp is favored for its established reputation, high liquidity, and robust trading platform, which makes it ideal for executing large transactions without significant market disruption.

How does whale activity impact the cryptocurrency market?

Whale activity can lead to short-term price volatility due to the size of their trades. However, strategic sales executed over time typically minimize adverse market impacts and contribute to market depth.

Is Ethereum a reliable long-term investment?

Ethereum has demonstrated significant growth and adoption, supported by developments like staking and protocol upgrades. Its strategic position makes it appealing for long-term investments, attracting both retail and institutional attention.

On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.

2025 Full Year and Fourth Quarter Financial and Operational Highlights

• Financial Performance:

Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.

Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.

Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.

• Mining Operations and Costs:

A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.

The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;

The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.

As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.

• Strategic Progress:

The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.

CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."

"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."

The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."

Fourth Quarter 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.

Operating Costs and Expenses

The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.

This includes:

· Cost of Revenue (excluding depreciation): $1.553 billion

· Cost of Revenue (depreciation): $38.1 million

· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)

· Mining Machine Impairment Loss: $81.4 million

· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million

Profit Situation

The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.

The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.

The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.

Full Year 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.

Operating Costs and Expenses

The total annual operating costs and expenses amount to $1.1 billion.

Specifically, they include:

· Revenue Cost (excluding depreciation): $543.3 million

· Revenue Cost (depreciation): $116.6 million

· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)

· Miner Impairment Loss: $338.3 million

· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million

Profitability

The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.

The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.

Financial Position

As of December 31, 2025, the company's key assets and liabilities are as follows:

· Cash and Cash Equivalents: $41.2 million

· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million

· Miner Net Value: $248.7 million

· Long-Term Debt (related party): $557.6 million

In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.

Stock Repurchase

As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

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