- Bitmine slowed its accumulation of Ethereum, adding only 26,659 ETH last week after Chairman Tom Lee indicated the company may focus on other opportunities.
- Strategy acquired 535 Bitcoin worth approximately $43 million, while Chairman Michael Saylor stated the company might sell BTC if it improves shareholder value.
- Both firms’ stock performance diverged from their core holdings, with MSTR gaining over 20% this year despite Bitcoin’s price drop, while BMNR fell over 20% alongside Ethereum.
In a week of strategic shifts for major corporate cryptocurrency holders, Bitmine significantly reduced its pace of Ethereum accumulation while Strategy continued its Bitcoin purchases despite new flexibility regarding potential sales. Bitmine’s latest purchase of roughly 26,659 ETH was a sharp decline from its previous weekly pace of over 100,000 tokens, according to company reports. This slowdown follows Chairman Tom Lee’s statement at Consensus Miami 2026 that the company may intentionally reduce its buying speed to focus on “other things” in the cryptocurrency industry.
Consequently, Bitmine’s total Ethereum holdings now stand at 5.2 million, representing approximately 4.31% of the circulating supply. Meanwhile, Strategy disclosed a new acquisition of 535 Bitcoin for around $43 million, bringing its total treasury to 818,869 BTC. The purchase came after Executive Chairman Michael Saylor stated during the company’s first-quarter earnings call that Strategy would consider selling Bitcoin “if it’s accretive to Bitcoin per share.” Wall Street analysts viewed this new flexibility positively, with BTIG raising its price target on MSTR’s stock to $350.
However, retail sentiment around the two companies diverged at market open. Strategy’s stock fell as much as 1.5% despite bullish chatter on Stocktwits, while Bitmine’s shares edged 1% higher amid bearish sentiment. Both companies remain dominant holders: Strategy is the world’s largest corporate Bitcoin holder, and Bitmine is the largest institutional Ethereum holder. Their stock performance this year has contrasted with their core assets, as Bitcoin’s price has fallen over 7% and Ethereum’s price held above $2,300 in early trading.
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