BitMine Buys $230M Ethereum, STRC Funding $2.5B Bitcoin Buys
BitMine bought $230 million of Ethereum last week, acquiring 101,627 ETH and raising its holdings to 4.97 million tokens valued at $11.43 billion. Michael Saylor’s strategy vehicle STRC funded 34,164 Bitcoin purchases worth $2.5 billion and now seeks semi-monthly dividends to speed reinvestment.
1. BitMine’s Record Ethereum Acquisition
BitMine Immersion Technologies executed its largest Ethereum purchase of the year by spending $230 million to acquire 101,627 ETH in one week. This haul increased its total holdings to 4.97 million tokens valued at $11.43 billion, reinforcing its position as a top corporate buyer and leaving total crypto and cash assets at $12.90 billion.
2. STRC-Backed Bitcoin Funding Mechanism
Michael Saylor’s team designed STRC, a $100-pegged perpetual preferred stock, to funnel capital directly into Bitcoin. The vehicle has already funded $2.5 billion of purchases for 34,164 BTC and is proposing semi-monthly dividends to accelerate reinvestment cycles, enhance liquidity and stabilize price dynamics.