Strategy and Bitmine expanded their crypto reserves with fresh purchases. Strategy bought $21.5 million worth of Bitcoin, bringing its total holdings to 848,250 BTC, while Bitmine acquired 12,532 ETH over the past week. According to the companies’ October 12 announcements, Bitmine’s Ethereum reserves have also surpassed 6 million ETH.
The purchases reflect the companies’ continued efforts to expand their crypto treasuries. Strategy funded its Bitcoin acquisition through share sales and cash holdings, while Bitmine is focusing on increasing staking revenue alongside its Ethereum accumulation.
Strategy’s Bitcoin Holdings Reach 848,250 BTC
Strategy purchased 250 BTC between October 5 and 11 at an average price of $86,194 per Bitcoin. The acquisition, worth approximately $21.5 million, brought the company’s total Bitcoin holdings to 848,250 BTC.
According to figures shared by co-founder and Executive Chairman Michael Saylor, the company’s average acquisition cost across its entire Bitcoin reserve stands at $75,444 per coin. Its total investment, including fees and expenses, amounts to approximately $64 billion.
At current prices, Strategy’s Bitcoin holdings are worth approximately $70.6 billion. This implies roughly $6.6 billion in unrealized gains, a figure that fluctuates with Bitcoin’s price.
Strategy’s holdings exceed 4% of Bitcoin’s maximum supply of 21 million BTC. The latest purchase further expanded this substantial reserve.
Approximately $21 million of the purchase was funded by the sale of 125,183 MSTR shares through the company’s at-the-market offering program. Strategy covered the remaining approximately $500,000 using its dollar cash holdings.
As of October 11, approximately $18.8 billion worth of MSTR shares remained available for issuance and sale under the program. This capacity represents a potential funding source for the company in future periods.
During the same period, Strategy repurchased 1,932,145 STRC preferred shares for approximately $192.4 million under its digital credit securities repurchase program. The company reported its separately classified USD Reserve and USD Cash balances at $4.88 billion and $640.5 million, respectively.
Bitmine’s Holdings Reach 4.9% of Ethereum’s Supply
Bitmine Immersion Technologies increased its total Ethereum holdings to 6,028,946 ETH after purchasing 12,532 ETH over the past week. According to the company, this represents approximately 4.9% of Ethereum’s circulating supply of 122.1 million ETH.
At a reference price of $2,544 per ETH, the reserve is worth approximately $15.3 billion. This valuation reflects the price used in the company’s announcement.
Bitmine has staked 5,067,309 ETH, representing 84% of its Ethereum holdings. These assets, valued at approximately $12.9 billion, generate returns through the company’s MAVAN platform and staking partners.
Based on a seven-day annualized yield of 2.61%, the company projects annual staking revenue of approximately $336 million. It expects that figure to reach $400 million once all its Ethereum holdings are staked.
These figures do not represent realized annual revenue. They reflect Bitmine’s projections based on current yields and the assets allocated to staking.
Beyond Ethereum, the company reported holdings of 214 BTC, a $180 million stake in Beast Industries, and an $85 million investment in Eightco Holdings. With $612 million in cash and marketable securities, Bitmine’s total holdings, including crypto assets and other investments, reached approximately $16.2 billion as of October 11.
Tom Lee Anticipates a Strong Crypto Bull Market
Bitmine Chairman Tom Lee maintained his optimistic outlook for the crypto market in the latest treasury announcement. Lee argued that the next cycle could potentially become the largest bull market in crypto history.
He pointed to tokenization, wealth transfers, corporate crypto accumulation, and use cases linked to artificial intelligence as factors supporting his outlook. According to Lee, digital asset treasuries could support the next cycle by moving part of the market’s supply onto corporate balance sheets for the long term.
The latest announcements from Strategy and Bitmine show how treasury expansion is progressing through different funding and revenue models. Strategy channels proceeds from share sales into Bitcoin accumulation, while Bitmine aims to generate staking income from most of its Ethereum reserves.
