- Strategy Inc. repurchased $1.5 billion of its 2029 convertible notes at an 8% discount, reducing total debt from $8.2 billion to $6.7 billion.
- Bitmine Immersion Technologies holds a $12.3 billion portfolio, anchored by 5.39 million ETH, representing 4.47% of Ethereum‘s total supply.
- Bitmine also holds a $95 million position in Eightco, one of the few publicly traded equities offering indirect exposure to OpenAI.
Shares of Strategy Inc. (MSTR) and Bitmine Immersion Technologies (BMNR) rose in midday trade on Tuesday after each company separately revealed the substantial size of its digital asset holdings. Consequently, a market dynamic is emerging where a company’s treasury size increasingly influences its equity value. Strategy announced it bought back $1.5 billion in principal of its 2029 convertible notes at a discount.
The company used $1.38 billion in cash and posted a $333 million gain on Bitcoin. Meanwhile, Bitmine reported total crypto, cash, and strategic holdings worth $12.3 billion. This figure is backed by 5.39 million Ether worth nearly $11.5 billion at current prices. CEO Tom Lee stated the company has staked 4.71 million ETH, projecting $276 million in annualized staking revenues.
Separately, Sharplink (SBET) announced it added 427 ETH in staking rewards this week. The company also said it will be added to the Russell 2000 and Russell 3000 indices on June 29, 2026.
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