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06/16 07:04

Bitmine, Strategy Step Up Accumulation as ETH, BTC

Bitmine, Strategy Step Up Accumulation as ETH, BTC Prices Fall 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. Buying through the dip 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 adds to holdings 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. #2026 World Cup Posting Challenge on HTX Square #HTX Creation Challenge — Post and Win 1,500U 💥

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