Strategy and BitMine buy bitcoin and ether on the dip

Strategy and BitMine buy bitcoin and ether on the dip



Strategy and BitMine buy bitcoin and ether on the dip

Between 6 and 12 October, Strategy bought 220 BTC for $27.2m. The company’s assets under management reached 640,250 BTC worth about $73bn.

The average purchase price was $123,561 per coin. Since the start of 2025, the bitcoin on the firm’s books has returned 29.5%.

Strategy raised funds by issuing preferred shares STRK, STRF and STRD under an expanded $84bn capitalisation programme running through 2027.

Michael Saylor’s company remains the largest corporate holder of digital gold. A day before the tranche, the firm’s head shared a post alluding to the market correction sparked by new trade tariffs from US president Donald Trump.

“Don’t stop believing,” he wrote. 

At the time of writing, 188 companies worldwide had joined the strategy of accumulating bitcoin. They manage 4.6% of the asset’s total supply.

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Top 10 largest bitcoin holders among public companies. Source: BitBo

A week earlier — from 29 September to 5 October — Strategy did not purchase the leading cryptocurrency, as it failed to raise capital via a share sale. The pause coincided with bitcoin setting a new all-time high above $125,000.

After a drop below $111,000, the price of digital gold recovered to $114,400.

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Hourly BTC/USDT chart on Binance. Source: TradingView

BitMine and Ethereum 

On 13 October, BitMine Immersion Technologies reported another round of Ethereum purchases. The firm acquired 202,037 ETH at a discount, taking advantage of the downturn across digital assets, according to a press release.  

At the time of writing, the cryptocurrency was trading around $4,107. Earlier, its price fell to $3,700.

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Hourly ETH/USDT chart on Binance. Source: TradingView.

Onchain Lens experts flagged BitMine’s transactions on 11 October.

The company’s reserves reached 3.03m ETH, equal to 2.5% of the second-largest cryptocurrency’s supply. It plans to accumulate 5% of the altcoin’s supply.

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Top 10 largest Ethereum holders among public companies (excluding BitMine’s latest purchase). Source: Strategic ETH Reserve.

BitMine’s portfolio also includes 192 BTC, a $135m stake in Eightco Holdings and $104m in cash.

BNB

Hong Kong’s China Renaissance Holdings is in talks to raise $600m for a fund focused on accumulating BNB, Bloomberg reported. 

Shares in the new vehicle are planned to be listed on an American exchange. Venture fund YZi Labs will participate in the deal. The firms are expected to invest $200m jointly.

In late August, China Renaissance said it would invest $100m in BNB as part of its collaboration with YZi Labs. The press release said the company became the first in Hong Kong to include the Binance-linked cryptocurrency in its reserves. 

Two of the company’s firms now accumulate BNB — CEA Industries and Nano Labs. They manage 608,000 coins worth about $787m. 

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Source: CoinGecko

Earlier, CEA Industries head David Namdar called BNB an undervalued asset. On 13 October, the cryptocurrency set a record high of $1,370. 

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