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Strategy, Strive and Bitmine Expand Crypto Treasuries With Fresh BTC and ETH Purchases
September 28 disclosures show continued Bitcoin accumulation and Bitmine nearing its 5% Ethereum target
TL;DR
- Strategy bought 1,665 BTC for about $142.7 million, lifting its Bitcoin holdings to 847,666 BTC.
- Strive added 1,107 BTC for $94.5 million, taking its treasury to 27,462 BTC.
- Bitmine bought 17,362 ETH and raised its Ether holdings above 6 million ETH, or more than 4.9% of circulating supply.
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Strategy, Strive and Bitmine disclosed new cryptocurrency purchases on September 28, 2026, extending corporate treasury accumulation across Bitcoin and Ether. Strategy increased its holdings to 847,666 BTC, Strive reached 27,462 BTC, and Tom Lee-chaired Bitmine crossed 6 million ETH as it moved closer to its stated goal of holding 5% of Ethereum’s supply.
Strategy Adds 1,665 Bitcoin as Treasury Reaches 847,666 BTC
Strategy acquired 1,665 BTC for approximately $142.7 million between September 21 and September 27, paying an average of $85,681 per Bitcoin. The purchase raised its total holdings to 847,666 BTC, representing more than 4% of Bitcoin’s maximum 21 million-coin supply.
Michael Saylor, Strategy co-founder and executive chairman, said the company had spent approximately $64 billion, including fees and expenses, acquiring its Bitcoin position at an average price of $75,437 per BTC. At the valuation cited with the disclosure, the treasury was worth about $70.6 billion, implying roughly $6.6 billion in paper gains.
Strategy funded the latest transaction with $103.5 million from sales of MSTR shares and $48.1 million from its USD Cash reserve. The company sold 1,469,165 MSTR shares during the week for approximately $246.2 million and still had about $18.84 billion available for issuance under its at-the-market program as of September 27.
Strategy also repurchased 1,534,530 STRC preferred shares for approximately $151.7 million and used $22.1 million from its USD Reserve for preferred-stock dividend payments. Its USD Reserve stood at $5.02 billion, while USD Cash totaled $1 billion.
Saylor had posted Strategy’s Bitcoin acquisition tracker on the preceding Sunday with the caption, “A little more orange.” Similar tracker posts have often preceded purchase announcements, although Strategy’s recent buying schedule had become less consistent.
Strategy also proposed moving STRC, STRD, STRF and STRK to daily dividend payments, subject to shareholder approval on October 28, 2026. The change would not alter dividend rates or increase total regular dividend obligations. STRC would move first, with an initial record date of November 1 and payment the following day, while STRF, STRD and STRK would follow in January. STRC shareholders had previously approved a shift from monthly to semi-monthly dividends in June 2026.
MSTR closed Friday at $158.61 after gaining 16.1% during the week. The stock was up 2.6% year to date but remained 65% lower over the previous year. Bitcoin gained 3.6% during the same week.
The broader public-company Bitcoin market cited alongside the disclosure included 195 companies using some form of Bitcoin-acquisition strategy.
Strive Extends Weekly Bitcoin Buying Streak
Strive CEO Matt Cole said the company acquired 1,107 BTC for $94.5 million at an average cost of $85,396 per Bitcoin.
“Strive acquired 1,107 $BTC for $94.5M at an average cost of $85,396 per Bitcoin, bringing total holdings to 27,462 [Bitcoin],” Cole said.
Strive’s total position had an estimated average purchase price of approximately $80,862 per Bitcoin. With Bitcoin trading at approximately $83,300 at the time cited, the treasury was valued at roughly $2.3 billion and remained slightly above its aggregate acquisition cost.
Cole also said warrant exercises generated another $12.4 million. After including those proceeds, 85% of Strive’s total capital raised had come from SATA, its Variable Rate Series A Perpetual Preferred Stock. SATA is a publicly traded preferred-equity investment structured as a digital credit product.
The purchase marked at least nine consecutive weeks of Bitcoin acquisitions for Strive. Its recent buying continued during weeks when Strategy was not purchasing Bitcoin or was selling.
Bitmine Crosses 6 Million ETH and Expands Staking
Bitmine bought another 17,362 ETH after its previous update on September 21, raising total Ether holdings to 6,001,302 ETH. Its ETH position was worth approximately $16.1 billion at the cited price.
“Bitmine's total ETH holdings now exceed 6 million. This is a tremendous achievement, accumulating this total in under 15 months,” Tom Lee said.
Bitmine’s Ether represented more than 4.9% of Ethereum’s circulating supply of approximately 122.1 million ETH. The company calls its 5% treasury objective the “Alchemy of 5%” target and had reached about 98% of that goal.
Lee said Bitmine was already seeing “synergies and positive network effects” from approaching the 5% threshold.
The latest 17,362 ETH was worth approximately $46.7 million at the market price cited at the time, although that figure represented a current valuation rather than the disclosed purchase cost.
Bitmine reported $17.2 billion in crypto holdings, cash, marketable securities and other investments. Its balance sheet also included the following positions:
Bitmine had 5,067,309 ETH staked as of September 27, valued at approximately $13.6 billion and equal to 84% of its total ETH holdings.
“Bitmine has staked more ETH than other entities in the world,” Lee said.
Lee said fully staking Bitmine’s ETH through MAVAN and its staking partners could generate $424 million in annualized staking rewards. At the existing staking level, projected annualized revenue stood at $358 million. Bitmine’s own staking operations generated a seven-day yield equivalent to 2.62% annualized.
Lee also said, “Moreover, we continue to see affirming signs that a crypto bull market is underway, having started in late June.”
He said institutions remained underweight crypto and expected them to increase exposure during the final months of 2026. Lee also said ETH was outperforming by 6,728 basis points, or 67.28 percentage points, for the calendar quarter to date with slightly more than one week left in the third quarter.
Bitmine remained the largest publicly traded Ethereum treasury holder in the comparison cited. Sharplink held approximately 888,938 ETH, while The Ether Machine held approximately 496,712 ETH. Bitmine was also ranked as the second-largest public crypto treasury company overall behind Strategy.
This article has been refined and enhanced by ChatGPT.
