Strategy Buys More BTC Again, Bitmine Expands Its ETH Reserves
<p class="text-left mb-4 ">In the cryptocurrency market, the aggressive accumulation strategies of institutional investors continue to attract attention. Strategy, one of the largest companies holding Bitcoin on its balance sheet, further expanded its reserves with new purchases made in the past week. Meanwhile, Bitmine Immersion Technologies continues its accumulation of Ethereum, creating one of the largest ETH holdings globally.</p><p class="text-left mb-4 ">US-based Strategy announced that it purchased a total of 17,994 <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">BTC </a>between March 2nd and 8th. According to the 8-K report submitted to the US Securities and Exchange Commission (SEC), these purchases amounted to approximately $1.28 billion. Strategy added these Bitcoins to its portfolio at an average price of $70,946 per BTC.</p><p class="text-left mb-4 ">
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</p><p class="text-left mb-4 ">With this latest purchase, the company's total Bitcoin holdings reached 738,731 BTC. Based on current prices, the market value of this reserve is approximately $50 billion. The total cost of Strategy's Bitcoin purchases to date, including transaction fees, is estimated at approximately $56 billion. This means the company's average purchase price is around $75,862.</p><p class="text-left mb-4 ">The amount of Bitcoin held by Strategy corresponds to more than 3.4% of Bitcoin's maximum fixed supply of 21 million. However, considering current price levels, the company's portfolio contains approximately $6 billion in unrealized losses.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Bitcoin purchases financed by share sales</h2><p class="text-left mb-4 ">The company used the proceeds from share sales to finance its recent Bitcoin purchases. Last week, Strategy sold 6,327,541 MSTR shares, raising approximately $899.5 million. It is stated that there is still capacity to sell $6.71 billion worth of shares under the program.</p><p class="text-left mb-4 ">In addition, the company sold 3,776,205 STRC preferred shares, raising another $377.1 million. There is also an additional sales potential of approximately $3.16 billion in the STRC program.</p><p class="text-left mb-4 ">Strategy has different preferred share programs to support its Bitcoin purchases. These include perpetual preferred equity programs called STRK, STRC, STRF, and STRD. The total size of these programs is over $30 billion.</p><p class="text-left mb-4 ">The company also plans to secure funding under its “42/42 plan,” which aims to raise a total of $84 billion in capital for Bitcoin purchases by 2027.</p><p class="text-left mb-4 ">Michael Saylor, co-founder and chairman of the board of Strategy, stated on his social media account before the new purchase announcement, “The second century is beginning.” This statement was interpreted as a reference to the company’s more than 100 Bitcoin purchase rounds to date. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Bitmine stands out on the Ethereum side</h2><p class="text-left mb-4 ">Institutional crypto accumulation is not limited to Bitcoin. Bitmine Immersion Technologies is one of the leading companies rapidly growing its Ethereum reserves.</p><p class="text-left mb-4 ">According to the company’s announcement on March 8th, Bitmine purchased 60,976 ETH in the last week. Thus, the company’s total Ethereum holdings reached 4,534,563 ETH. Based on a price of approximately $1,965 per Ethereum, the value of this reserve reaches billions of dollars.</p><p class="text-left mb-4 ">Bitmine management stated that this purchase rate is above the company's average accumulation level of 45,000–50,000 ETH in recent weeks. The company stated that it considered the recent market pullback as a buying opportunity.</p><p class="text-left mb-4 ">According to current data, Bitmine holds approximately 3.76% of the circulating Ethereum supply. The company aims to bring this rate closer to its internal target of 5% supply share.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Staking revenues are growing</h2><p class="text-left mb-4 ">Staking operations constitute a significant part of Bitmine's Ethereum strategy. According to the company's data, a total of 3,040,483 ETH is included in the staking system. This amount is worth approximately $6 billion.</p><p class="text-left mb-4 ">It is estimated that these staking activities generate approximately $174 million in revenue annually. It is stated that this figure could reach up to $259 million when the staking infrastructure is fully scaled.</p><p class="text-left mb-4 ">The company is also continuing to develop its validator infrastructure called "Made in America Validator Network (MAVAN)". This system aims to provide a dedicated infrastructure for large-scale Ethereum validation processes.</p>