Strategy Deploys $200M Into Bitcoin as BitMine Expands to 4,473,587 ETH and ProCap Adds 450 BTC

Corporate Crypto Treasuries Deepen Positions Amid Market Volatility

TL;DR

• Strategy spent $200 million on Bitcoin on March 2, 2026 and raised its STRC dividend to 11.5%.
• BitMine acquired 50,928 ETH worth about $103 million, bringing holdings to 4,473,587 ETH valued near $9 billion.
• ProCap Financial bought 450 BTC, lifting total holdings to 5,457 BTC while repurchasing 782,408 shares.

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Strategy disclosed on March 2, 2026 that it purchased $200 million worth of Bitcoin, marking its third-largest acquisition of the year as the company continued deploying capital into its flagship treasury asset. The firm also increased its STRC preferred stock monthly dividend for the seventh time, raising the payout to 11.5%. Bitcoin was trading at $68,949 based on COIN360 data at the time of reporting, according to the crypto price index.

The latest purchase follows a series of large-scale buys earlier in the year, including an acquisition of approximately 13,600 BTC valued at about $1.2 billion. Strategy remains the largest corporate holder of Bitcoin, with total reserves in the hundreds of thousands of BTC. The company funded the March purchase partially through preferred stock proceeds and largely through common share issuance, according to its disclosure.

Ethereum treasury firm BitMine Immersion Technologies also reported a substantial expansion of its holdings on March 2, 2026, adding 50,928 ETH valued at approximately $103 million. The purchase brought BitMine’s total Ethereum position to 4,473,587 ETH, representing roughly 3.71% of the circulating supply of about 120.7 million ETH. At a crypto price of $2,037 per token based on COIN360 data, the company’s Ethereum treasury was valued near $9 billion, while ETH traded at $2,042 at the time of reporting on the crypto price index.

BitMine has accumulated its Ethereum position despite a 22% decline in ETH over the past month. The firm’s unrealized losses on prior purchases were estimated at approximately $7.7 billion. Shares of BitMine’s stock were down about 51% over the past six months. The company has staked more than 3 million ETH and reported generating approximately $172 million in annual staking revenue at current rates, with projections rising to $253 million annually once its MAVAN validator network becomes fully operational in 2026.

“BitMine has been buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals,” Tom Lee said. He added, “the price of ETH is not reflective of the high utility of ETH and its role as the future of finance.”

ProCap Financial, chaired by Anthony Pompliano, disclosed that it purchased 450 BTC on March 2, 2026, increasing its total Bitcoin holdings to 5,457 BTC and lowering its average cost basis per coin. The company also repurchased 782,408 shares over roughly the previous 10 days. Following the acquisition, ProCap ranked as the 19th-largest publicly traded Bitcoin holder by coin market cap metrics tracking corporate reserves.

Pompliano described the firm’s capital allocation strategy in a statement, saying the company is “buying bitcoin to average down our total cost basis and buying back our own stock when the market misprices it.”

This article has been refined and enhanced by ChatGPT.