Strategy and BitMine Deploy $300M to Buy Bitcoin, Ethereum Despite $16B Losses
Strategy acquired 3,015 BTC at an average $67,700 per coin, boosting its holdings to 720,737 BTC while BitMine purchased 50,928 ETH worth approximately $100 million, bringing its total to 4,473,580 ETH, including 3,040,483 ETH staked for $253 million in forecasted annual rewards. Combined unrealized losses exceed $16 billion.
1. Aggressive Crypto Acquisitions
Strategy and BitMine Immersion Technologies accelerated digital asset acquisitions over the past week, deploying more than $300 million into Bitcoin and Ethereum despite a broader market downturn.
2. Strategy's Bitcoin Treasury Expansion
Strategy purchased 3,015 BTC at an average price of $67,700 per coin, increasing its total holdings to 720,737 BTC. The firm financed the acquisition through the sale of Class A common stock, marking its tenth consecutive weekly buy.
3. BitMine's Ethereum Accumulation and Staking
BitMine acquired 50,928 ETH valued between $98 million and $103 million, raising its total to 4,473,580 ETH. Of those holdings, 3,040,483 ETH are staked, which is projected to generate $253 million in annual rewards through the upcoming MAVAN network.
4. Combined Losses and Institutional Conviction
Together, the two firms face unrealized losses of over $16 billion on their crypto treasuries, yet management views current price levels as long-term buying opportunities and continues to expand balance sheet allocations to digital assets.