While much of the crypto market was gripped with fear after the recent selloff, Strategy and BitMine took an opposite approach by buying more digital assets.
Between June 1st and 7th, Strategy Bitcoin holdings increased with a total of 1,550 BTC added, while BitMine also added to its own Ethereum holdings with 126,971 ETH over the same period.
Both of these moves happened after Bitcoin had briefly sunk below $60,000 and Ethereum had plummeted towards $1,500, triggering widespread liquidations across the market.
Strategy Bitcoin Holdings now at 845,256 BTC
Michael Saylor’s Strategy resumed its accumulation campaign with a $101.3 million Bitcoin purchase at an average price of $65,332 per coin.
The latest acquisition lifted the company’s total holdings to 845,256 BTC. Strategy also increased its cash reserves by $100 million, bringing total reserves to $1 billion.
This move was particularly interesting because in the previous week, Strategy had sold 32 BTC at an average price of $77,135. The sale was a result of preferred stock dividend obligations and was the company’s first Bitcoin sale since 2022. It kicked off a lot of debate in the crypto community.
However, selling the 32 BTC sale represented a tiny, almost negligible, 0.0038% of its total holdings. Days later, the company bought 1,550 BTC at a lower average price, essentially buying back more than it had sold.
Despite the latest purchase, Strategy is still in the red on paper. Its average cost per BTC stands at roughly $75,680 and with the current market price, that leaves it with billions in unrealized losses.
BitMine Digs in on Ethereum
While Strategy was busy buying up more of its beloved Bitcoin, Tom Lee’s BitMine continued to build what has become the largest corporate Ethereum treasury in the world.
The company purchased 126,971 ETH in the space of a week, its biggest Ethereum buy of the year so far which pushed its total holdings to 5,543,872 ETH, representing approximately 4.59% of Ethereum’s circulating supply.
BitMine Chairman Tom Lee defended the move, stating:
“We increased our buying as we believe this pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals.”
The firm’s total crypto, cash, and investment holdings now stand at roughly $9.6 billion. More than 4.7 million ETH are staked through its validator operations, representing over 85% of its Ethereum holdings.
The Difference Between the Two Models
Although both companies are buying up, their approach to crypto is very different.
The Strategy Bitcoin model is all about buying up as much Bitcoin as possible with the company relying on equity offerings, convertible debt, and capital markets. Because Bitcoin doesn’t really generate any interest of its own, Strategy relies on long-term price growth to make it worthwhile.
BitMine on the other hand is taking a very different approach. Ethereum can be staked to earn ongoing rewards and according to BitMine, its current staking operation could generate up to $270 million a year, with projected annual staking revenue of $230 million.
That revenue stream provides a cushion that Bitcoin treasury firms do not have.
Does This Mean a Crypto Recovery?
It would be premature to declare the start of a new bull market based solely on these purchases.
Bitcoin is still way down on its recent highs, and Ethereum is hovering way below its 2025 peak. Macro uncertainty, interest-rate expectations, and geopolitical tensions continue to weigh on risk assets.
Still, corporate behavior often reveals conviction levels better than market commentary.
Rather than reducing exposure during panic, both Strategy and BitMine increased their positions. That suggests management teams at both firms view current prices as attractive accumulation zones rather than reasons to retreat.
The market may remain volatile in the weeks ahead, but the latest buying activity shows that some of crypto’s largest treasury holders continue to treat weakness as an opportunity.
Conclusion
This last Strategy Bitcoin purchase and BitMine’s record Ethereum reveal that institutional crypto conviction is still rock solid, even after getting battered around by market turbulence.
Strategy added 1,550 BTC, taking their total holdings to 845,256 Bitcoin, while BitMine is now sitting on 5.54 million ETH. Both of them are carrying hefty unrealized losses yet neither appears willing to slow its accumulation plans.
Glossary
Bitcoin Treasury Company: A company that holds Bitcoin as a primary treasury reserve asset.
Ethereum Staking: Locking ETH to help secure the network in exchange for rewards.
Unrealized Loss: A paper loss that exists because an asset’s market value has fallen below its purchase price.
BTC: The native cryptocurrency of the Bitcoin network.
ETH: The native cryptocurrency of the Ethereum network.
FAQs About Strategy Bitcoin and Bitmine Ethereum Accumulation
How much Bitcoin does Strategy currently own?
Strategy owns 845,256 BTC after purchasing an additional 1,550 Bitcoin between June 1 and June 7.
How much Ethereum is BitMine holding onto?
BitMine is sitting on 5,543,872 ETH which is roughly 4.59% of the total circulating supply.
Why is BitMine staking Ethereum?
Because staking lets them earn some extra network rewards while holding onto ETH which in turn gives another revenue stream.
Did Strategy recently sell some Bitcoin off?
Yes. They sold 32 BTC to pay some preferred stock dividend obligations and then went straight back to buying.
Does corporate buying guarantee a market recovery then?
No. Corporate accumulation can indicate confidence, but broader market conditions still determine price direction.
References
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
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