Crypto Market News

06/16 06:46

Bitmine, Strategy Step Up Accumulation as ETH, BTC

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Bitmine, the largest listed Ether ($ETH) treasury holder, according to the company, bought another 76,881 $ETH towards its target of capturing 5% of the total ether supply. Top corporate Bitcoin ($BTC) buyer Strategy also added to its position.NYSE-listed Bitmine said in a 15 Jun statement that it was maintaining an "elevated pace of buying" as it believed the $ETH price decline did not reflect improving fundamentals. Founded in 2021 as an immersion-cooled Bitcoin mining and hosting company, Bitmine pivoted under Chairman Tom Lee to a crypto-treasury model that runs institutional staking via its Made in America Validator Network (MAVAN). Lee said the industry was in "the early stages of crypto spring," and that Bitmine expected to close in on what he called the "alchemy of 5%" sometime in 2026, the point at which reaching that threshold of total ether supply would transform the company from a mining business into a high-yield, recurring revenue treasury engine. The firm said that as of 14 Jun it held 5,620,754 $ETH, valued at about $1,718 per $ETH. Its $ETH holdings represented 4.7% of the total $ETH supply of 120.7mn, leaving Bitmine about 93% of the way to its 5% target. Ether is the second-largest cryptocurrency by market capitalization, at $200.9bn. Strategy, listed on Nasdaq and formerly known as MicroStrategy, disclosed in a filing with the US Securities and Exchange Commission (SEC) that, for the week from 8 Jun–14 Jun, it added 1,587 bitcoin at an average purchase price of $63,024 and held an aggregate 843,706 $BTC as of 14 Jun. The firm, whose co-founder Michael Saylor is one of Bitcoin's most prominent corporate advocates, said the balance of its US dollar reserve stood at $1.1bn as of 14 Jun. The reserve was established in December 2025 to fund dividend payments on Strategy's preferred stock. Strategy transformed in

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