Corporate Bitcoin and Ethereum Treasuries Expand as Strategy Buys 17,994 BTC and BitMine Lifts Holdings to 4.53 Million ETH

Public Companies Accelerate Crypto Treasury Accumulation With Billion-Dollar Purchases and Expanding Staking Positions

TL;DR

• Strategy purchased 17,994 BTC for $1.28 billion financed partly through $377 million in preferred shares, bringing its total holdings to 738,731 BTC.
• BitMine reported 4,534,563 ETH in treasury assets after adding 60,976 ETH in a week, with 3,040,483 ETH staked and generating an estimated $174 million in annualized staking revenue.
• SharpLink disclosed a $734 million net loss while expanding its Ethereum holdings to about 868,000 ETH as corporate crypto treasury strategies spread across public markets.

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Strategy disclosed a major expansion of its Bitcoin treasury after purchasing 17,994 BTC valued at $1.28 billion, adding to the company’s position as the largest corporate holder of the asset, its biggest accumulation since Jan 20’s 22,305 purchase worth $2.125 billion. The purchase was executed at an average price of $70,946 per Bitcoin, according to the company’s announcement released in early March 2026. Funding for the acquisition included proceeds from a capital raise involving $377 million in preferred shares, continuing a financing approach the firm has repeatedly used to convert capital-market liquidity into cryptocurrency exposure tied to Bitcoin’s crypto price.

Company filings show Strategy’s treasury now totals 738,731 BTC, accumulated through an ongoing program of acquisitions financed by equity issuance and other capital-market instruments. Corporate disclosures place the firm’s average acquisition cost for the entire treasury at $75,862 per BTC. Bitcoin traded near $68,000 at the time of the purchase based on COIN360 data from the broader crypto price index, placing portions of the company’s holdings below their average cost basis under current market conditions tied to overall coin market cap fluctuations.

Financial statements previously reported a $12.4 billion loss during the fourth quarter of 2025, driven largely by $17.4 billion in unrealized valuation losses recorded under accounting rules that require companies to recognize changes in the crypto price of digital assets on their balance sheets. Strategy chairman Michael Saylor signaled the purchase publicly before the company confirmed the acquisition, continuing a pattern of previewing large Bitcoin treasury transactions through social media before official disclosures tied to corporate filings.

BitMine Immersion Technologies reported a further expansion of its Ethereum treasury, saying it had increased holdings to 4,534,563 ETH after acquiring 60,976 ETH over the past week for roughly $120 million. The company said the position amounts to about 3.76% of Ethereum’s circulating supply of approximately 120.7 million tokens. At about $1,965 per ETH, the treasury was valued near $8.9 billion, forming the bulk of BitMine’s reported $10.3 billion in combined crypto and cash holdings.

A large portion of the treasury is already deployed in staking infrastructure. BitMine said 3,040,483 ETH is currently staked, generating an estimated $174 million in annualized staking revenue based on current network yields. The company said its balance sheet also includes $1.2 billion in cash, 195 bitcoin, and minority stakes in Beast Industries and Eightco Holdings.

Chairman Tom Lee said the company has continued to accelerate purchases during what it described as the late stage of a market downturn. “Ethereum prices showed resilience this week in the face of rising war concerns and surging oil prices,” Lee said in a statement, adding that the company believes digital assets are entering the late stages of a “mini-crypto winter.” BitMine has said it is pursuing what it calls the “alchemy of 5%,” an internal target to eventually control about 5% of Ethereum’s total supply.

Broader Ethereum staking demand also remained elevated. Data cited by the company showed more than 3.2 million ETH waiting in Ethereum’s validator entry queue, while fewer than 60,000 ETH were queued to exit staking. Ether traded around $2,000 at press time, while BMNR shares were flat in pre-market trading as equities reacted to conflict in the Middle East.

SharpLink also disclosed expanding Ethereum holdings alongside a significant loss tied to asset valuation changes. Financial results released on March 9, 2026 reported a $734 million net loss in 2025 while the company increased its treasury holdings to approximately 868,699 ETH. The company has funded Ethereum acquisitions through capital raises totaling more than $2.6 billion, allowing the firm to accumulate one of the largest corporate Ethereum reserves currently held by a publicly traded company.

Operational updates show nearly all of SharpLink’s holdings have been staked to generate yield through Ethereum’s proof-of-stake network. Earlier disclosures recorded more than 1,326 ETH in cumulative staking rewards earned through validator operations tied to the company’s treasury strategy. Leadership includes Ethereum co-founder Joseph Lubin, who serves as chairman while also leading blockchain software firm Consensys, alongside Joseph Chalom, a former BlackRock digital assets executive.

This article has been refined and enhanced by ChatGPT.