Bitmine Added ETH While Strategy’s BTC Lull Continues
Two of crypto’s biggest corporate treasuries moved in opposite directions last week, as Strategy sat out Bitcoin buying for the 5th week in a row while Bitmine added another chunk of ETH to its stack.
What’s the Scoop?
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Strategy’s buildup: Its 843,775 BTC holding didn’t change, but the firm sold roughly $544.5M in stock and grew its USD reserve to $3.75 billion. This cash trove is now enough to cover about two years of preferred-dividend obligations.
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Bitmine’s buy: In contrast, Bitmine added 9,946 ETH, up from 7,430 the prior week, pushing its treasury to 5,787,414 ETH (worth about $11.3 billion and nearly 5% of ETH’s total supply.
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Different targets: Strategy is repurchasing preferred shares to ease its dividend load, while Bitmine upped its common-stock buyback to 6.1 million shares, bringing its total under a $4 billion program to 11.6 million shares.
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Yield gap: Unlike Strategy’s static BTC pile, Bitmine’s ETH stash isn’t just sitting there. More than 4.9 million of the company’s tokens are staked, a sum projected to generate about +$250 million in rewards this year.
