As prices of Bitcoin (BTC) and Ethereum (ETH) experience notable corrections, the two leading publicly traded holders of these cryptocurrencies, Strategy (previously known as MicroStrategy) and Bitmine Immersion, have taken significant steps to enhance their portfolios over the last week.
Strategy Continues Bitcoin Purchases
On Monday, Strategy announced that it acquired 1,129 Bitcoin at an average price of approximately $88,568 each, totaling around $108.8 million between December 22 and 28.
This recent acquisition raised Strategy’s Bitcoin total to 672,497 tokens, initially obtained for about $74,997 per token, amounting to a total investment of around $50.44 billion.
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In addition to these acquisitions, the company raised $108.8 million by selling Class A common stock through its at-the-market equity offering, leaving a significant $11.7 billion still available for future issuances and sales.
This follows a quiet week after November 24, where no new crypto acquisitions or security issuances occurred. Notably, Strategy paused its purchasing efforts between December 15 and 21, breaking a three-week acquisition streak, during which it sold common stock totaling $747.8 million.
Bitmine Accumulates 4,110,525 Ethereum
Meanwhile, Bitmine Immersion has reported a significant rise in its Ethereum holdings, adding 44,463 ETH in just a week. This brings their total to 4,110,525 ETH, which represents around 3.41% of the overall Ethereum supply. Of this amount, Bitmine has staked 408,627 ETH.
Tom Lee, the Chairman of Fundstrat and a prominent figure at Bitmine, observed market trends, noting that trading typically slows toward the end of the year. He highlighted that “Bitmine added 44,463 ETH last week, as we continue to be the largest ‘fresh money’ buyer of ETH globally.”
Lee attributed the downward trend in cryptocurrency and related equities to year-end tax-loss selling, which tends to surge between December 26 and December 30.
Reiterating Bitmine’s strategic approach, Lee stated that the company remains focused on enhancing shareholder value by acquiring ETH accretively per share and optimizing investment yields on its Ethereum holdings.
Challenges in the Crypto Market
Despite these acquisitions, both cryptocurrencies have struggled to recover key levels, with BTC consolidating below $90,000 at approximately $87,400 and ETH hovering just above $2,920. On a year-to-date basis, both ETH and BTC are projected to end 2025 with losses of 12% and 6%, respectively.
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Strategy’s stock, trading under the ticker MSTR, is currently around $156 per share, reflecting a steep 71% drop from its peak of $540 reached in November 2024.
As of this writing, Bitmine’s BMNR stock was trading at $28.40, representing an even sharper decline compared to its all-time high of $161, marking an 82% loss since July this year.
Image by DALL-E, chart from TradingView.com
