- Bitmine now holds 4.88% of Ethereum’s circulating supply while Strategy controls 4.2% of all Bitcoin in the market.
- Strategy has paused its Bitcoin acquisitions for the second straight week while Bitmine secured 27,180 ETH over the past week.
Bitmine Immersion Technologies Inc. (BMNR) has increased its Ethereum (ETH) treasury to 5.96 million tokens. It’s now close to achieving its target of capturing 5% of the second-largest crypto asset by market cap’s circulating supply.
Meanwhile, Strategy Inc. (MSTR) has again held back from buying Bitcoin (BTC). Instead, it resumed repurchasing shares of the Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).
Bitmine’s Ethereum Holdings
Bitmine purchased 27,180 ETH over the past week, bringing its portfolio to 5,956,378 ETH. The figures account for around 4.88% of Ethereum’s 122.05 million circulating supply, getting the company roughly 98% closer to its “Alchemy of 5%” goal.
The world’s largest corporate holder of Ethereum didn’t mention the exact amount at which it acquired the new tokens. Nonetheless, it estimated the acquisition at about $68.3 million, or $2,513 per ETH, in its latest report.
In addition to its Ethereum haul, the digital asset treasury (DAT) company holds 212 BTC, a $180 million stake in Beast Industries, a $98 million stake in Eightco Holdings (ORBS), and $549 million in total cash and marketable securities.
To optimize its treasury, Bitmine staked nearly 85% of its Ether tokens across its proprietary MAVAN (Made in America Validator Network) platform and partners. Company Chairman Tom Lee expects the venture to generate $334 million in staking revenues annually.
Lee remains bullish on Ethereum amid another round of worldwide oil price hikes and a looming rise in US interest rates, noting that the ETH-to-BTC price ratio has been at its highest since January 30, 2026. The chairman highlighted that the metrics’ resilience has shown impressive strength despite global equities trading range-bound due to persistent geopolitical tension, especially in the Middle East.
Moreover, Lee emphasized that ETH was the best-performing macro asset in the third quarter, even surpassing the S&P by 5,866 basis points before the last weekend. He projects that the token, alongside Solana (SOL) and Bitcoin, will sustain its momentum into the fourth quarter.
Strategy HODLs Again
For the second consecutive week, Strategy skipped its Bitcoin purchase to focus on buying back STRC shares. Over the past week, it repurchased 1.42 million shares of the preferred stock for $139.3 million.
It’s worth noting that the company tapped only into its cash reserves for the repurchase. This leaves it with $5.1 billion in US dollar reserves and $1.3 billion in cash on hand.
Strategy maintains its status as the world’s largest DAT with a massive portfolio of 845,050 BTC, accounting for around 4.2% of Bitcoin’s circulating supply.
