Strategy and BitMine Spend Nearly $3 Billion on Crypto

Two of the world’s most significant crypto treasury companies have just substantially increased their digital asset holdings. Strategy, the largest publicly traded Bitcoin holder, and BitMine Immersion Technologies, the leading Ethereum-focused treasury company, made combined purchases worth just under three billion US dollars.

Strategy Buys Bitcoin for $2.54 Billion

Strategy (MSTR), the company founded by Michael Saylor, acquired a total of 34,164 Bitcoin last week at an average price of approximately $74,395 per coin. The total purchase price amounted to roughly $2.54 billion. This represents the third-largest single purchase in the company’s history.

This acquisition raised Strategy’s total holdings to 815,061 BTC. The company has spent approximately $61.56 billion on its entire Bitcoin holdings to date, corresponding to an average cost basis of $75,527 per coin. With the current market price at around $75,000, the holdings are thus sitting near the break-even point.

The latest purchase was financed through two capital measures: approximately $2.2 billion was raised through the sale of Class STRC preferred shares, with a further $366 million coming from the issuance of new common shares. The MSTR stock responded to the announcement with a pre-market decline of more than 2.5 percent.

BitMine Boosts Ethereum Purchases to Yearly High

BitMine Immersion Technologies (BMNR) reported the purchase of 101,627 Ether (ETH) for the past week, with a current equivalent value of over $230 million. It was the company’s largest weekly purchase since December 15, 2025. Total holdings thereby rose to approximately 4.97 million ETH.

The company’s total assets, consisting of cryptocurrencies and liquid funds, amount to $12.9 billion. Of these, approximately 3.33 million ETH are deployed in staking, which the company states generates an annualized return of approximately $221 million. In addition, BitMine holds 199 Bitcoin as well as $1.12 billion in cash and equity interests.

BitMine Chairman Tom Lee justified the accelerated purchasing strategy with a positive market outlook. He pointed to Ethereum’s recovery from its February lows as well as structural demand factors in the areas of tokenization and artificial intelligence.

“Bitmine has maintained the elevated pace of ETH purchases over the past four weeks, as we believe ETH is in the final stages of the crypto mini-winter.” (Tom Lee, Chairman BitMine)

Both companies are among the few large institutional players that continue to actively accumulate cryptocurrencies despite ongoing market volatility. While most other digital treasury firms have recently slowed or halted their purchases, Strategy and BitMine are continuing their accumulation strategies unabated, making them important sources of demand in their respective markets.