In a bold move that underscores the resilience of major players in the volatile cryptocurrency market, Strategy and Bitmine Immersion Technologies have significantly expanded their digital asset holdings. Despite a recent downturn in both Bitcoin and Ethereum prices, the two companies have collectively invested around $260 million, with Strategy adding 2,486 Bitcoin and Bitmine acquiring 45,759 Ether.
Strategy, known for its aggressive Bitcoin accumulation strategy, spent $168.4 million on the latest batch of Bitcoin purchases from February 9 to February 16. This brings the company’s total Bitcoin holdings to 717,131 BTC, with an aggregate purchase price of $54.52 billion, implying an average acquisition cost of $76,027 per BTC. The acquisitions were funded through share sales, including 785,354 shares of STRC preferred stock for $78.4 million and 660,000 shares of Class A common stock for $90.5 million.
Bitmine: Staking and Diversification
Meanwhile, Bitmine, the largest Ether treasury company, has increased its Ether holdings to 4,371,497 ETH, representing 3.62% of the total 120.7 million ETH supply. Of this amount, 3,040,483 ETH are staked, with an estimated value of $6.1 billion at $1,998 per ETH. The annualized staking revenue is projected to be around $176 million. The company also reported total crypto, cash, and other investments of $9.6 billion, including $670 million in cash, 193 BTC, a $200 million stake in Beast Industries, and a $17 million stake in Eightco Holdings.
Market Context and Share Price Fluctuations
The latest purchases come at a time when both Bitcoin and Ethereum have been experiencing significant price declines. Bitcoin is currently trading near $66,700, down about 30% over the past 30 days, while Ethereum is hovering around $1,990, off more than 40% over the same period. The broader crypto market’s retreat from Bitcoin’s October peak above $126,000 has also led to sharp declines in the share prices of digital asset treasury companies.
Strategy’s stock is currently trading around $129, down about 72% from its July 16, 2025, high of $455.90. Bitmine shares have seen an even sharper decline, trading around $20, down about 85% from its July 3 high of $135. However, the stock remains up nearly 175% over the past year. Other notable companies in the space, such as SharpLink Gaming and MARA Holdings, have also experienced significant share price drops.
Industry Trends and Future Outlook
According to data from BitcoinTreasuries.NET, 194 publicly traded companies collectively hold 1.136 million Bitcoin valued at around $76 billion. By comparison, 28 entities hold 6,301,185 Ether valued at about $12.5 billion. The trend of companies adding digital assets to their treasuries continues, despite the market volatility.
The recent actions by Strategy and Bitmine highlight the strategic importance of digital assets in corporate balance sheets. As the crypto market continues to mature, these companies are positioning themselves to benefit from long-term growth, even as they navigate short-term market fluctuations. The future of digital asset treasuries looks promising, with more companies likely to follow suit in the coming months.
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