The two largest publicly traded crypto treasury companies expanded their digital asset holdings this week, with Strategy adding 2,486 Bitcoin and Bitmine Immersion Technologies buying 45,759 Ether, deploying about $260 million combined.
Strategy said it spent $168.4 million on Bitcoin (BTC) purchases Feb. 9-16, bringing total holdings to 717,131 BTC. The acquisitions were funded through share sales under its at-the-market program, including 785,354 shares of STRC preferred stock for $78.4 million in net proceeds and 660,000 shares of Class A common stock for $90.5 million.
As of Monday, Strategy reported an aggregate purchase price of $54.52 billion for its Bitcoin holdings, implying an average acquisition cost of $76,027 per BTC. The latest purchases were made at an average price of $67,710 apiece.
Bitmine, the largest Ether treasury company, said its Ether (ETH) holdings now total 4,371,497 ETH, representing 3.62% of the 120.7 million ETH supply. Of that amount, 3,040,483 ETH are staked, valued at about $6.1 billion at $1,998 per ETH, with annualized staking revenue estimated at $176 million.
The company also reported total crypto, cash and other investments of $9.6 billion, including $670 million in cash, 193 BTC, a $200 million stake in Beast Industries and a $17 million stake in Eightco Holdings.
The purchases came as both Bitcoin and Ether continued to slide. At the time of writing, Bitcoin was trading near $66,700, down about 30% over the past 30 days.
Ether was hovering around $1,990, off more than 40% over the same period, according to CoinGecko data.
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Crypto treasury stocks tumble as Bitcoin retreats from October peak
As the broader crypto market retreats from Bitcoin’s October peak above $126,000, digital asset treasury companies, publicly traded companies that accumulate and hold cryptocurrencies as primary reserve assets, have also experienced sharp declines in their share prices.
Strategy is currently trading around $129, down about 72% from its July 16, 2025, high of $455.90, according to Yahoo Finance data. Bitmine shares have seen an even sharper decline. The stock is trading around $20, down about 85% from its July 3 high of $135. However, the stock remains up nearly 175% over the past year.
SharpLink Gaming, the second-largest Ether treasury holder with 864,840 ETH, about 0.72% of total supply, has also seen its shares decline sharply. At the time of writing, the stock is trading near $6.55, down from $79.21 on May 29.
MARA Holdings, which holds 53,250 BTC and ranks as the second-largest publicly traded Bitcoin holder, is trading near $7.48, down from $22.84 on Oct. 15, a decline of around 67%.
According to BitcoinTreasuries.NET data, 194 publicly traded companies collectively hold 1.136 million Bitcoin valued at around $76 billion.
By comparison, 28 entities hold 6,301,185 Ether valued at about $12.5 billion, based on CoinGecko data.
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