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.
• 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”).