Strategy and Bitmine advance Bitcoin and Ethereum accumulation

Major digital asset treasury companies Strategy and Bitmine Immersion Technologies are advancing their respective accumulation programs for Bitcoin and Ethereum.

Strategy recently acquired 250 BTC for approximately $21.5 million, bringing its total holdings to 848,250 BTC. The company funded this purchase through $21 million in common stock sales and $500,000 from cash reserves. Alongside its Bitcoin strategy, Strategy has been aggressively repurchasing its STRC preferred shares, spending $192.4 million in a single week to support share value.

Bitmine Immersion Technologies has reached a significant milestone in its Ethereum accumulation strategy, now holding 6.03 million ETH. This represents approximately 4.9% of the total outstanding Ethereum supply, nearing the company’s self-imposed 5% cap. Bitmine’s total crypto and cash holdings are valued at approximately $16.2 billion. Chairman Tom Lee noted that much of the accumulation occurred during a bear market, positioning the company for a potential bull cycle. Bitmine also recently completed a $350 million common stock buyback program.