Crypto World
Bitmine Acquires 28,000 ETH, Reaches 97% of Treasury Target
Bitmine Immersion Technologies said it has added another tranche of Ether, tightening the gap between its current holdings and a long-stated corporate target to accumulate 5% of Ethereum’s total supply. The new purchase extends a streak of periodic ETH buys led by chairman Tom Lee, as the company positions its treasury around staking-linked yield.
In an announcement released Tuesday via PR Newswire, Bitmine reported acquiring 28,086 ETH last week. At the time of the filing, the company said the purchase is worth roughly $69.5 million, taking its total Ether holdings to 5.93 million tokens acquired at an average price of $2,495 per ETH.
Key takeaways
- Bitmine purchased 28,086 ETH last week, lifting total holdings to 5.93 million ETH.
- The company says its average acquisition cost is $2,495 per ETH and that the new stake-related positioning supports annualized staking revenue expectations.
- Bitmine reported it has completed 97% of its goal to reach 5% of Ethereum’s total supply within 15 months.
- Third-party tracking indicates Bitmine faces about $5.1 billion in unrealized losses on its Ether treasury, amid ETH weakness in 2026.
- Bitmine’s NYSE-listed shares were down more than 2% at Tuesday’s market open, according to Yahoo Finance.
Ether accumulation keeps the 5% goal in focus
Bitmine’s latest move builds on an acquisition campaign that has been closely tied to its stated objective of owning a substantial share of Ethereum. In the same PR Newswire release, the company said it has now completed 97% of the plan, with the timing framed around a 15-month window.
Just days earlier, Bitmine said it completed a 53,501 ETH purchase, which pushed its holdings to about 4.9% of Ethereum’s 120.7 million circulating supply. With the newest addition, the company is drawing nearer to a target that would make it one of the most concentrated corporate Ether treasuries globally.
Bitmine also reiterated its leadership role in the effort. Earlier coverage from Cointelegraph described Bitmine’s ongoing Ether buying streak and Tom Lee’s involvement in steering the treasury strategy.
How the treasury is financed: assets, staking, and expected revenue
Beyond the headline purchases, Bitmine provided a snapshot of its balance sheet. The company said it has $15.7 billion in total assets, including $593 million in marketable securities, cash and other cryptocurrency holdings. It also reported 5.1 million Ether is staked.
The release connects that staking position to an outlook for yield, stating that staked ETH is expected to generate $330 million in annualized staking revenue. Separately, Cointelegraph has previously covered similar staking-related dynamics in the context of evolving institutional Ethereum access, including Fidelity’s staking-linked developments reported around an ETF filing.
For investors, the practical significance is that Bitmine’s strategy is not only about accumulating ETH at scale, but also about capturing ongoing network rewards. That can influence how shareholders evaluate the company’s treasury performance during drawdowns—particularly when ETH’s spot price fluctuates while staking economics continue to accrue.
Mark-to-market pressure remains as Ether trades lower
Even with an aggressive accumulation plan, Bitmine’s reported performance is constrained by the market’s direction. According to Dropstab data cited in the article, the company is facing $5.1 billion in unrealized losses on its Ether holdings.
The pressure aligns with broader price weakness in 2026. Ether has fallen 16% since the beginning of the year and was trading at $2,469 at 1:29 pm UTC on Tuesday, according to CoinMarketCap. With Bitmine’s stated average purchase price at $2,495 per ETH, the company’s treasury remains exposed to the same valuation swings affecting the wider market.
Equity reaction and what to watch next
Bitmine’s stock performance also reflects investor uncertainty around the timing and durability of crypto sentiment. Yahoo Finance data cited in the report showed the company’s NYSE-traded BMNR shares were down more than 2% at Tuesday’s market open, with the stock positioned to deepen its year-to-date decline into double digits.
In the near term, the most important question for readers is whether Bitmine can keep aligning new purchases with its 5% target timeline while managing the risk of continued volatility. The company has laid out a clear operational roadmap—weekly or periodic acquisitions alongside a large staked position—but the outcome still depends on Ethereum’s price trajectory and the pace of additional buying required to close the remaining gap to its stated supply share.
As the campaign progresses, investors may want to track three things closely: the pace of additional ETH acquisitions needed to reach (and sustain) the 5% goal, changes to Bitmine’s balance sheet composition and staking throughput, and how equity markets respond to the gap between long-term treasury strategy and near-term mark-to-market losses.
Uber Technologies (UBER) stock fell on Tuesday, despite Wall Street analysts offering positive takes on the company’s efforts to fend off competition from Waymo and Tesla (TSLA). Tesla late Thursday held an official launch in Austin, Texas, for its “Cybercab,” its first vehicle built specifically to operate for autonomous ride-hailing. The competitive threat of robotaxis from Tesla and the Google-backed…
Copyright ©2026 Investor’s Business Daily, LLC. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
Kuchinad, the CEO of cryptocurrency custody firm Copper since 2024, has left the company, according to two people familiar with the matter.
Bitcoin is currently 36% below its October 2025 high, 335 days after that level was reached, while the median asset among the top 200 cryptocurrencies is down 58%.
But Glassnode found that privacy is the only sector that has moved above its October peak after gaining 213%, while every other sector remains below its level at the time, ranging from DeFi at 27% lower to Gaming at 74% lower.
Only Sector Above its October Peak
The divergence has persisted despite a broad market rebound over the past 30 days, during which all ten sectors posted gains. Privacy again led that monthly advance as it rose by 90%. The sector’s market capitalization also increased from $7.1 billion a year ago to $33.6 billion today, a figure roughly comparable to Tron’s market cap. Nearly half of that increase occurred during the past 30 days.
The biggest contributor to that expansion has been Zcash. Its market-cap ranking has jumped from 82nd to 10th, while its value has increased by more than 2,200% over the same period. It now represents 62% of the privacy sector’s total capitalization. Monero, meanwhile, doubled over the same period.
Despite ZEC’s outsized contribution, the gains extend beyond a single asset: all eight privacy coins with a full year of trading history are higher, compared with only one in eight assets across the broader top-200 market.
Excluding ZEC, the cap-weighted privacy basket is still up 85% over the year and 56% since Bitcoin’s October high. Over the past 90 days, DASH, XMR, and ZEN have each outperformed Bitcoin. Among the 25 largest assets, only four are above their October 6 prices: ZEC, HYPE, XMR, and WBT. Two of those four are privacy coins.
Sector Returns Diverge
HYPE is the clear exception among the major assets. Without HYPE, the DeFi sector would be down 46% for the year. Every other major crypto asset, including ETH and DOGE, is still trading below its October high.
A total of 91.5% of the top 200 assets posted gains over the past 30 days. That marks the broadest monthly advance in the history of the dataset. The picture changes considerably when the timeframe extends to a full year. Just 25 of the 200 assets are in positive territory, and the median coin has lost 55%.
The ten sector indices are also showing their widest gap in 30-day returns since November 20, 2025.
The post Zcash (ZEC) Rockets 2,200% as Privacy Coins Become Crypto’s Biggest Outlier appeared first on CryptoPotato.
Michael Saylor’s Strategy, the largest corporate Bitcoin treasury, skipped its weekly Bitcoin acquisition to repurchase $176 million of its preferred STRC stock.
Strategy repurchased 1.8 million STRC shares for an aggregate $176.3 million between Aug. 31 and Sept. 7, according to a Tuesday filing with the US Securities and Exchange Commission.
The company also doubled the size of its Digital Credit Securities Repurchase Program to $2 billion. With no new purchases, Strategy’s holdings sit at 845,050 Bitcoin (BTC), acquired for a total of $63.6 billion, at an average purchase price of $75,412 apiece.
Last week, Strategy made its first BTC buy since mid June, with a $370 million purchase.
While STRC’s share price was largely flat in premarket activity on Tuesday, trading at $97.70, or a 2.3% discount from its intended $100 par value, the company’s Nasdaq-traded MSTR common stock was down more than 3% at last look, according to Yahoo Finance.
STRC is one of Strategy’s main vehicles to fund its Bitcoin accumulation. Trading below par limits Strategy’s ability to raise funds through STRC sales and may force the company to further increase its dividend rate.
Strategy unveiled a capital framework on June 29 to allow Bitcoin sales to fund dividends and increased the annual dividend rate on its STRC preferred stock to 12%.
Related: Standard Chartered wavers on $100K Bitcoin year-end call, says it may be ‘too low’
BTC treasury challenger Strive steps purchases
While Strategy opted to pause its Bitcoin buying last week, management other companies stepped up purchases of the biggest crypto by market cap.
Strive, the fifth-largest corporate Bitcoin treasury, acquired 1,375 Bitcoin for $109 million, at an average cost of $79,281 per BTC, bringing its total holdings to 24,531 Bitcoin, CEO Matt Cole revealed on Monday. Ahead of Tuesday’s market open, the company’s Nasdaq-traded ASST shares were down more than 2.5%, after more than doubling in the past month.
France-listed Bitcoin treasury Capital B also revealed a $25 million Bitcoin acquisition on Monday, its largest in nearly a year, pushing the French company ahead of H100 Group among publicly traded BTC holders.
It appears that last week’s bitcoin purchase from the largest corporate holder of the cryptocurrency was an outlier, as the company has refrained from doubling down. Instead, its former CEO, Michael Saylor, announced minutes ago on X that the firm has repurchased another $176 million worth of STRC.
Moreover, it increased the size of the recently launched Digital Credit Securities Repurchase Program from $1 billion to $2 billion. Saylor’s post also reminded that the company currently holds 845,050 BTC and $6.5 billion in USD assets.
Strategy’s position recently turned green even after the minor correction in the past 24 hours. Its stash was bought at an average price of $75,412 per unit. Given BTC’s current trading price of $78,200, it means that the company stands on an unrealized profit of over $2 billion.
Strategy has repurchased $176M of $STRC and increased the size of its Digital Credit Securities Repurchase Program from $1.0B to $2.0B. As of 9/7/26, we hold 845,050 $BTC and $6.5B of USD Assets. $MSTR https://t.co/mxqv9QCRat
— Michael Saylor (@saylor) September 8, 2026
It’s worth noting that Strategy’s purchase last week raised some eyebrows in the crypto community because it came at prices of over $80,000 while its sales were completed when the asset had tumbled to around $62,000. In other words, Strategy bought high after selling low.
Nevertheless, its STRC repurchasing program has benefited the underlying asset’s recovery. The shares, which are supposed to trade at par levels of $100, dumped to $75 earlier this summer, but have rebounded to almost $98 as of Friday’s close.
The post No Bitcoin for Strategy This Week as Focus Remains on STRC Buybacks appeared first on CryptoPotato.
A string of incidents involving Coldcard, Lightning and Liquid highlights how AI is changing the economics of finding bugs in bitcoin infrastructure.
Bitmine Immersion Technologies, the largest corporate Ether holder, announced another purchase of the second-biggest crypto, bringing the company closer to management’s goal of accumulating 5% of the total supply.
Bitmine acquired 28,086 Ether (ETH) last week, according to a Tuesday announcement, which is currently worth about $69.5 million. The purchase brings Bitmine’s total holdings to 5.93 million Ether acquired at an average price of $2,495 per ETH.
Bitmine reported $15.7 billion in total assets, including $593 million in marketable securities, cash, other crypto holdings and 5.1 million in staked ETH, which is expected to generate $330 million in annualized staking revenue.
Following the purchase, Bitmine said it completed 97% of its goal to acquire 5% of the total Ether supply within 15 months. Led by chairman Tom Lee, the company announced a 53,501 ETH acquisition last week, pushing its holdings to account for 4.9% of Ethereum’s 120.7 million circulating supply.
Bitmine ranks as the world’s largest publicly listed Ether treasury. The company is currently facing $5.1 billion in unrealized losses on its ETH holdings, according to Dropstab data. Ether’s price fell 16% since the beginning of 2026 and was trading at $2,469 at 1:29 pm UTC on Tuesday, according to CoinMarketCap.
The company’s NYSE-traded BMNR stock price was down more than 2% at Tuesday’s market open, poised to extend its year-to-date decline into double digits, according to Yahoo Finance.
Related: Tom Lee says ‘mini crypto winter’ is over, sees Ether above $60K
Strive has continued its tradition of announcing its latest bitcoin purchases on X on Monday or the first business day of the week, similar to what Michael Saylor does for Strategy. In the example, after Labor Day came minutes ago, as CEO Matt Cole outlined a major $109 million BTC acquisition for 1,375 units, accumulated at an average price of $79,281.
Thus, the company’s stash has increased further and has now reached 24,531 BTC. Given the cryptocurrency’s current price tag of $78,200, this puts the USD valuation of Strive’s stash at just over $1.9 billion.
Strive acquired an additional 1,375 BTC for $109M at an average cost of $79,281 per bitcoin, bringing total holdings to ₿24,531.
70% of the capital raised last week came from $SATA, which now has $999M notional outstanding.
Time to break the billion-dollar wall.$ASST $SATA pic.twitter.com/qjjykekHTk
— Matt Cole (@ColeMacro) September 8, 2026
Recall that the company announced an even more significant purchase last week when it added 1,800 BTC for $143 million at a similar average price.
Unlike the events from eight days ago, though, there’s a major discrepancy now. Back then, Strategy also outlined its first BTC purchase in over two months. Now, though, Saylor’s company said it has stood on the sidelines while refocusing on repurchasing STRC shares.
The post Strive Adds More Bitcoin as Total Holdings Rise Above 24,500 BTC appeared first on CryptoPotato.
Crypto World
Visa combines VisaNet data with onchain lending to power stablecoin card working capital
Visa’s stablecoin settlement volume surpassed a $20 billion annualized run rate, up 15x year over year. Now it wants blockchain lenders to use that data to extend credit to the issuers driving the growth.
The deal could grant Circle vital, regulated “last-mile” infrastructure, bridging the gap between stablecoins and traditional local banking systems.
Ben Cowen: Most Accurate Trader In Crypto Flips On Bitcoin
Callum Beattie set to close out biggest year of his career with Perth gig
Core Lithium notches first production at restarted Finniss
-
Tech4 hours agoMemory prices are slowing because buyers ran out of money
-
Business6 hours agoEgyptian TV Presenter Sarah Khalifa, 11 Others Sentenced To Death In Major Drug Trafficking Case In Cairo
-
NewsBeat2 hours agoEngland up in reading, maths and science rankings as Scotland and Wales dip
-
Tech6 hours agoStrong Password Policy and Password Manager Guide
-
NewsBeat1 hour agoTehran’s assertive rhetoric signals a new and dangerous phase in conflict
-
Entertainment6 hours agoThe 10 Most Influential Books of the 20th Century, Ranked
-
Crypto World5 hours agoArm Stock: Arm Extends Reach To Physical AI
-
Sports6 hours agoRob Baxter: Exeter boss says England should pick English-based players
-
Crypto World6 hours agoStablecoins could save South Korean merchants up to $3.8 billion a year, budget office says
-
Politics5 hours agoSusan Sarandon Claims She Lost Film Work Due To Her Support For Palestine
-
Crypto World5 hours agoEthereum Foundation Sets a December 2029 Deadline to Beat the Quantum Clock
-
Entertainment5 hours ago10 Genuinely Perfect Psychological Thrillers, Ranked
-
Business5 hours ago
Uber president & COO Andrew Macdonald buys $5.3m in company stock
-
Business6 hours agomodel backs CBD drinks brand
-
Crypto World6 hours agoVisa expands stablecoin card network to 160 programs
-
Crypto World6 hours agoHyperliquid Season 3 Airdrop Wait Fuels a Meme Coin Machi Big Brother Promotes
-
Crypto World6 hours agoHow Democrats Plan to Investigate Trump’s Ballroom
-
Business6 hours ago
Goldman Sachs maintains neutral stance amid market shifts
-
Business6 hours agoClaim Your Share Of $50 Million Disney Streaming Price Settlement By Sept. 8 Tonight
-
Sports5 hours agoMy Gladiola secures emotional Moir Stakes win in 2026
You must be logged in to post a comment Login