Bitmine Adds ETH While Strategy Maintains BTC Holdings
Two major corporate treasuries in the crypto space, Bitmine and Strategy, took divergent approaches last week. Strategy did not add to its Bitcoin holdings for the fifth consecutive week but sold $544.5 million worth of stock, increasing its USD reserves to $3.75 billion—enough to cover about two years of preferred-dividend obligations. In contrast, Bitmine added 9,946 ETH to its treasury, bringing its total holding to over 5.78 million ETH (worth approximately $11.3 billion), or nearly 5% of the total supply. While Strategy is focusing on repurchasing preferred shares to reduce dividend obligations, Bitmine increased common-stock buybacks under a $4 billion program and continues staking more than 4.9 million ETH. This staked amount is expected to generate around $250 million in rewards this year.
Tickers: $MSTR
Topics: bitcoin crypto ethereum treasuries