Strategy Acquires 1,200 BTC, Bitmine Immersion Boosts ETH Holdings by 44,000

As Bitcoin (BTC) and Ethereum (ETH) experience notable price corrections, the two leading publicly traded holders of these digital assets—Strategy (formerly known as MicroStrategy) and Bitmine Immersion—have made important moves to enhance their investment portfolios over the past week.

Key Takeaways

Strategy acquired 1,129 BTC, increasing its total holding to 672,497 tokens.
Bitmine Immersion added 44,463 ETH, bringing its total holdings to 4,110,525 ETH.
Both cryptocurrencies are facing significant corrections, with BTC priced at around $87,400 and ETH at approximately $2,920.
Strategy's stock (MSTR) has decreased by 71% from its 2024 high, while Bitmine’s (BMNR) stock has dropped by 82% since July.
Market trends show that trading activity typically slows down as the year ends, influenced by tax-loss selling.

Ethereum

Strategy Reinvigorates Bitcoin Investments

On Monday, Strategy revealed that it had acquired 1,129 Bitcoin between December 22 and December 28, purchasing them at an average price of approximately $88,568 per Bitcoin, totaling around $108.8 million.

With this latest acquisition, Strategy's Bitcoin holdings have grown to 672,497 tokens, originally purchased for about $74,997 each, resulting in a total investment of approximately $50.44 billion. This decision follows the sale of $108.8 million in Class A common stock under its at-the-market equity offering, leaving a remaining $11.7 billion available for future equity issuance and sales.

This acquisition comes after a period from November 24 during which the company did not make any new cryptocurrency purchases or issue securities. Notably, Strategy also paused its buying activities between December 15 and December 21, ending a three-week acquisition streak during which it sold common stock worth $747.8 million.

Bitmine Increases Ethereum Holdings

In a parallel move, Bitmine Immersion has reported a significant increase in its Ethereum holdings, adding 44,463 ETH in just one week. This brings Bitmine's total Ethereum stash to 4,110,525 ETH, which accounts for approximately 3.41% of the entire Ethereum supply. Among this quantity, Bitmine has staked 408,627 ETH.

Tom Lee, the Chairman of Fundstrat and a prominent figure at Bitmine, discussed the seasonal patterns in the market, indicating that trading usually slows as the year ends. He highlighted, "Bitmine added 44,463 ETH in the past week, maintaining our position as the largest 'fresh money' buyer of ETH globally."

Lee attributed the downward pressure on cryptocurrency and related stocks to year-end tax-loss selling, which typically peaks between December 26 and December 30. Emphasizing Bitmine's strategic focus, he stated that the company is dedicated to enhancing shareholder value. This includes accretively acquiring ETH per share and optimizing yields and income from its Ethereum holdings.

Despite these new acquisitions, both cryptocurrencies have struggled to recover their critical levels; BTC is stabilizing below $90,000 at around $87,400, while ETH is trading just above $2,920. On a year-to-date basis, both ETH and BTC are projected to close 2025 with losses of 12% and 6%, respectively.

Strategy's stock, traded under the ticker MSTR, is currently priced around $156 per share, reflecting a significant 71% decline from its all-time high of $540 reached in November 2024. As of this writing, Bitmine's BMNR stock is trading at $28.40, representing an even steeper loss compared to its all-time high of $161, leading to an 82% drop since July of this year.

Ethereum
The 1-D chart illustrates ETH’s price downward trend since the start of the year’s fourth quarter. Source: ETHUSDT on TradingView.com
Featured image from DALL-E, chart from TradingView.com