Bitmine Added ETH While Strategy's BTC Lull Continues
Bitmine's ETH treasury topped 5.78M tokens worth $11.3B, while Strategy's BTC stack went untouched again.
Two of crypto's biggest corporate treasuries moved in opposite directions last week, as Strategy sat out 
Bitcoin buying for the 5th week in a row while Bitmine added another chunk of ETH to its stack.
What's the Scoop?
- Strategy's buildup: Its 843,775 BTC holding didn't change, but the firm sold roughly $544.5M in stock and grew its USD reserve to $3.75 billion. This cash trove is now enough to cover about two years of preferred-dividend obligations.
- Bitmine's buy: In contrast, Bitmine added 9,946 ETH, up from 7,430 the prior week, pushing its treasury to 5,787,414 ETH (worth about $11.3 billion and nearly 5% of ETH's total supply.
- Different targets: Strategy is repurchasing preferred shares to ease its dividend load, while Bitmine upped its common-stock buyback to 6.1 million shares, bringing its total under a $4 billion program to 11.6 million shares.
- Yield gap: Unlike Strategy's static BTC pile, Bitmine's ETH stash isn't just sitting there. More than 4.9 million of the company's tokens are staked, a sum projected to generate about +$250 million in rewards this year.
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