Strategy, formerly MicroStrategy, ticker MSTR, has made another significant Bitcoin acquisition, purchasing 17,994 BTC for approximately $1.28 billion between March 2 and March 8, 2026.
This marks one of the company’s largest single purchases in recent months, with an average price of about $70,946 per Bitcoin. This brings Strategy’s total holdings to 738,731 BTC, acquired at an aggregate cost of roughly $56.04 billion (average price ~$75,862 per BTC).
The purchase was funded through proceeds from its at-the-market (ATM) equity sales program, including common stock and preferred shares. Michael Saylor, Executive Chairman, highlighted this as the company’s 101st Bitcoin purchase, signaling the start of a “second century” in its accumulation strategy.
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The move comes amid Bitcoin rebounding toward $70,000+, reflecting continued corporate confidence in BTC as a treasury asset. In parallel, BitMine Immersion Technologies (ticker BMNR), the largest corporate holder of Ethereum, announced it acquired 60,976 ETH last week its biggest weekly purchase of 2026 so far.
This boosts its total holdings to 4,534,563–4.535 million ETH, representing about 3.76% of Ethereum’s circulating supply. The addition pushes BitMine’s overall crypto and cash assets to around $10.3 billion, with a significant portion ~3.04 million ETH staked, generating estimated annualized revenue of $174 million.
The company is pursuing its “Alchemy of 5%” goal to control 5% of ETH supply, and Chairman Tom Lee has expressed optimism that the “mini crypto winter” may be ending, citing improving market signals. These twin announcements from two major corporate treasuries—one heavily Bitcoin-focused (Strategy) and the other Ethereum-focused (BitMine)—underscore ongoing institutional accumulation in major cryptocurrencies despite market volatility.
Such moves often bolster sentiment and can influence price dynamics for BTC and ETH. The dual announcements from Strategy (MSTR) and BitMine Immersion Technologies (BMNR) represent significant institutional accumulation in the crypto space amid a volatile market recovering from a “mini crypto winter.”
Strategy’s $1.28 billion purchase of 17,994 BTC at ~$70,946 average helped fuel BTC’s rebound above $70,000. This large buy contributed to positive momentum, with BTC testing highs near $72,000 in recent sessions amid mixed ETF inflows ($167M net for BTC ETFs in the latest week) and reduced geopolitical risk premiums.
Corporate buying like this often acts as a sentiment booster and supply absorber, supporting stabilization or upside in the $70K–$75K range. However, market reaction to the news itself was relatively muted (MSTR shares up modestly ~0.2–2% in pre/post-market), reflecting expectations of ongoing accumulation rather than surprise.
BitMine’s 60,976 ETH acquisition added to ETH’s holdings push, coinciding with ETH trading around $2,000–$2,500 levels. This reinforced bullish signals from Tom Lee, who declared the “mini crypto winter” nearing its end due to improving fundamentals like high on-chain activity.
ETH saw some share price lift for BMNR (7–10% in related sessions historically), though broader price impact remains tied to staking yields ~$174M annualized from ~3M staked ETH and overall market recovery. These moves highlight corporate demand providing a floor during dips, countering volatility from macro factors.
Both companies signal strong conviction: Strategy marks its “second century” of BTC buys, while BitMine advances toward its “Alchemy of 5%” ETH goal now ~3.76% of supply at 4.535M ETH. This twin strategy—one BTC-focused and one ETH-focused—underscores diversification in corporate treasuries.
It bolsters overall crypto sentiment, showing institutions view major assets as strategic reserves despite paper losses. Corporate treasuries (DATCos) are maturing in 2026, with accumulation shifting toward revenue generation (staking for ETH, potential lending/collateral uses for BTC). This reduces pure speculation risks and attracts more traditional finance interest.
Funded via ATM equity/preferred sales, this supports continued BTC yield but introduces dilution risk for shareholders. MSTR acts as a high-beta BTC proxy, so rallies in BTC amplify gains and vice versa in drawdowns. The buy reinforces its leadership but highlights leverage to BTC volatility.
BitMine (BMNR): Staking generates meaningful revenue ~$174M annualized, differentiating it from pure holders and providing cash flow to fund further buys or operations. This could stabilize BMNR’s valuation relative to NAV, though it’s still highly correlated to ETH price.
Prolonged crypto downturns could pressure equity issuance, force sales, or trigger consolidation among treasury firms. These buys lock away meaningful portions of circulating supply creating upward pressure over time via reduced liquidity—especially with ETF inflows and potential sovereign adoption.
2026 sees crypto treasuries as a growing category (hundreds of firms, $100B+ in holdings), with ETH emerging as a viable alternative to BTC due to yield. This could accelerate institutional infrastructure (custody, collateral use) and normalize digital assets on corporate balance sheets.
These purchases act as bullish catalysts in a consolidating market, reinforcing crypto’s role as a corporate asset class while highlighting risks tied to price dependency and capital raises. If BTC/ETH sustain rebounds aided by these inflows, it could catalyze broader upside; otherwise, dilution concerns may cap enthusiasm.