USDStrategy Resumes Bitcoin Buying as Bitmine Slows Ethereum Accumulation
Corporate Crypto Treasury Expansion Continues Despite Slower Purchase Pace
TL;DR
- Strategy resumed Bitcoin acquisitions with a 535 BTC purchase worth $43 million.
- Bitmine added 26,659 ETH while slowing its weekly Ethereum accumulation pace.
- Both companies expanded already massive crypto treasury positions tied to long-term holding strategies.
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Strategy resumed Bitcoin acquisitions with a 535 BTC purchase worth $43 million between May 4 and May 10, while Bitmine slowed the pace of its Ethereum buying after rapidly expanding its ETH treasury holdings earlier this year.
Strategy bought the Bitcoin at an average price of $80,340 per BTC after pausing purchases following its April 27 acquisition. The latest transaction increased the company’s total Bitcoin holdings to 818,869 BTC, acquired for about $61.86 billion at an average purchase price of $75,540 per coin, including fees and expenses.
The company funded the latest purchase primarily through share-sale proceeds, including $42.9 million raised through Class A common stock sales and another $100,000 from Stretch stock issuance.
Michael Saylor said Strategy would “probably sell some Bitcoin” to fund dividends and demonstrate that limited sales would not damage either the company or the broader Bitcoin market.
Strategy shares rose 4.3% in premarket trading to above $187.50 after the purchase disclosure. TradingView data cited in the information showed the stock remained up 23% year-to-date despite Bitcoin’s 7.2% decline during the same period.
Bitmine Slows Ethereum Purchases After Rapid Expansion
Bitmine added 26,659 ETH for roughly $63 million in its latest weekly purchase, marking a significant slowdown from its earlier pace of more than 100,000 ETH per week.
The purchase increased Bitmine’s total Ethereum holdings to 5,206,790 ETH, valued at approximately $12.3 billion at an average of $2,366 per token. The position represents 4.31% of Ethereum’s 120.7 million circulating supply.
Chairman Tom Lee said, “We have decided to slow down our pace of weekly accumulation from over 100,000 per week.” Lee added that the previous buying pace would have allowed Bitmine to reach its target of holding 5% of Ethereum’s circulating supply by mid-July.
Bitmine’s Ethereum accumulation rate had accelerated from roughly 40,000 ETH per week in January to more than 100,000 ETH by late April. Its April 27 purchase of 101,901 ETH marked the company’s largest single-week Ethereum acquisition since mid-December 2025.
Staking Operations Generate Hundreds of Millions in Revenue
Bitmine has staked 4,712,917 ETH, representing more than 90% of its Ethereum holdings, through its Made in America Validator Network platform and other partner validators.
The staked Ethereum position was valued at about $11.1 billion based on the reported average ETH purchase price.
Lee said Bitmine’s staking operation currently generates “$319 million” in annualized staking revenue. He added the figure could rise to $352 million based on a 7-day yield of 2.86% if the company eventually stakes its full ETH treasury through MAVAN.
MAVAN was initially developed for Bitmine’s internal operations, but the company plans to expand access to institutional investors and custodians.
Bitmine reported total crypto, cash, and investment holdings of $13.4 billion as of May 10, 2026. The holdings included 201 BTC, an $88 million position in Eightco Holdings, a $200 million stake in Beast Industries, and $775 million in cash.
Lee said, “If ETH closes above $2,100 at the end of May 2026, this would be the third consecutive monthly gain,” adding that such a close would confirm that “crypto spring” has arrived.
Lee also identified Wall Street’s increasing use of blockchain-based tokenization and demand for public, neutral blockchains supporting agentic AI systems as long-term drivers for Ethereum adoption.
Bitmine, which trades under the ticker BMNR, uplisted from NYSE American to the New York Stock Exchange on April 9, 2026. Fundstrat data cited in the information showed the company recorded average daily trading volume of $816 million during the five trading days ending May 8, making it the 149th most actively traded U.S. stock.
FAQ
How much Bitcoin does Strategy hold after the latest purchase?
Strategy holds 818,869 BTC.
How much Ethereum does Bitmine currently hold?
Bitmine holds 5,206,790 ETH.
Why did Bitmine slow its ETH buying pace?
Tom Lee said the company intentionally reduced weekly accumulation from previous levels above 100,000 ETH.
How much ETH has Bitmine staked?
Bitmine has staked 4,712,917 ETH through MAVAN and partner validators.
This article has been refined and enhanced by ChatGPT.
