Ether was down 4.70% over 24 hours, while long liquidations reached $20.15 million in one hour across three major exchanges.
BitMine has staked 84% of its Ethereum holdings, projecting up to $400 million in annual staking revenue once the entire treasury is deployed.
Ether traded at $2,460 on Binance at 7:29 p.m. ET Monday, down 3.01% over 24 hours.
The liquidation occurred at $2,471 at 6:59 p.m. ET on Oct. 12 (22:59 UTC).
The tally covered $24.69 million in total Ether liquidations during the hour ending at 7:04 p.m. ET on Oct. 12, as the asset fell 1.21%.
Ether traded at $2,490 on Binance at 5:59 p.m. ET Monday, down 1.15% from one hour earlier.
BMNR stock dipped to $23.85 despite Bitmine buying 12,532 ETH, lifting its Ethereum treasury to 6.03 million tokens on October 12.
Bitmine bought 12,532 ETH last week, lifting its treasury to 6,028,946 tokens and leaving it about 76,000 ETH short of owning 5% of ether's supply.
The Ethereum treasury company's weekly purchase shrank for a third straight week, while a lower ether price pulled its total holdings down to $16.2 billion.
Ethereum has seen its liquidity conditions on Binance increasingly weaken as its Liquidity Shock Z-Score has also dropped significantly to a multi-month low.
Bitmine Immersion Technologies just bought another massive chunk of Ethereum.
Ether recovered toward $2,550 after finding demand near $2,360-$2,420, but a sustained move above $2,660-$2,740 remains necessary to strengthen the recovery.