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Digital asset treasuries had a big Monday. Strategy acquired 34,164 BTC for about $2.54 billion, its largest buy since November 2024 which brings its total holdings to 815,061 BTC. Bitmine acquired 101,627 ETH and now holds 4.976 million ETH - over 4% of the total supply.
What's the Scoop?
- Strategy's BTC buy: Between April 13-19, Strategy purchased 34,164 BTC at an average price of $74,395, spending about $2.54 billion. Total holdings now stand at 815,061 BTC, acquired at an average price of $75,527. The purchases were funded by selling new shares of MSTR stock and STRC preferred stock to the market.
- Bitmine's ETH holdings: Bitmine now holds 4.976 million ETH, representing 4.12% of total ETH supply. Of that, 3.33 million ETH is staked through MAVAN, Bitmine's institutional-grade validator network, generating $221 million in annualized staking revenue at a 2.88% yield. The company's combined crypto, cash, and equity holdings total $12.9 billion.
- Bitmine's pace: Bitmine acquired 101,627 ETH in the past week alone, the highest single-week purchase rate so far this year. Tom Lee, Bitmine's chairman, said the company believes ETH is in the final stages of a "mini-crypto winter."
- Market context: Lee highlighted ETH outperforming the S&P 500 since the US-Iran conflict began, rising 41% from February lows. He attributed the outperformance to Wall Street’s growing tokenization activity and demand from agentic AI systems (as they need “public, neutral blockchains”).
Bitmine Launches Institutional ETH Staking Platform on Bankless
Bitmine’s MAVAN platform launches with 3.14M staked ETH, targeting institutional clients and projecting nearly $300M in annual staking rewards.
David Christopher
