As Bitcoin hovers around $65,500 and Ethereum trades near $1,976, Strategy and BitMine Immersion Technologies continue accumulating BTC and ETH, respectively, despite significant market drawdowns.
Both firms appear to view current price levels as long-term buying opportunities.
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Strategy, the world’s largest corporate holder of Bitcoin, has maintained its aggressive acquisition strategy into 2026.
According to its latest update, the firm bought 3,015 BTC at an average price of approximately $67,700 per coin, spending about $204.1 million.
The purchase pushed Strategy’s total holdings to 720,737 BTC.
The company largely funded the acquisition through sales of its Class A common stock, using equity markets to expand its Bitcoin treasury.
This marks Strategy’s 10th consecutive weekly buy, a streak that began in late 2025, underscoring Executive Chairman Michael Saylor’s continued commitment to Bitcoin as a core balance sheet asset.
BitMine Chairman Tom Lee described the recent market pullback as “attractive,” citing Ethereum’s strengthening fundamentals, including its role in decentralized finance and staking rewards.
Notably, 3,040,483 ETH—representing a significant portion of its treasury—is currently staked, generating an estimated $253 million in annual rewards once fully optimized through the company’s upcoming MAVAN staking network.
Combined, Strategy and BitMine deployed more than $300 million into digital assets in the past week alone, signaling strong institutional conviction despite global economic uncertainty and ongoing geopolitical tensions.
$16 Billion in Unrealized Losses
Both firms continue accumulating assets despite mounting unrealized losses tied to the broader crypto market downturn.
Strategy acquired its Bitcoin at an average price of $75,985 per coin.
With BTC trading near $65,500, its 720,737 BTC are currently valued at roughly $47 billion, compared to a total acquisition cost of $54.77 billion—implying paper losses exceeding $7.7 billion.
The pressure has already appeared in financial statements.
Strategy reported a $17.4 billion operating loss in Q4 2025, largely driven by unrealized digital asset losses under current accounting standards.
BitMine faces a similar challenge. The company’s Ethereum was acquired at an estimated average cost of around $3,760 per token.
BitMine’s total holdings are currently valued near $8.8 billion, down sharply from an estimated $16.8 billion cost basis.
That positions the firm among the hardest-hit corporate crypto investors, alongside major holders such as Twenty One Capital and Metaplanet.
Combined, Strategy and BitMine’s unrealized losses now exceed $16 billion.
Both companies emphasize that these figures remain unrealized and reflect current market prices.
Any sustained recovery in BTC or ETH would materially alter the accounting picture.
Evolving Buying Patterns?
Prior to the decline, Strategy’s purchases were more sporadic and often aligned with earnings cycles.
Since BTC broke below $70,000, however, the firm has adopted a near-weekly buying cadence, acquiring more than 40,000 BTC in January 2026 alone.
This dollar-cost averaging approach spreads capital deployment across price levels, allowing Strategy to accumulate at lower average prices, including the recent $67,700 per BTC.
BitMine has similarly accelerated its pace.
Before ETH’s drop below $2,500, the firm focused on gradual accumulation toward its “Alchemy of 5%” goal—aiming to hold 5% of Ethereum’s total supply.
Since the pullback, weekly purchases such as the 50,928 ETH addition reflect a more opportunistic strategy.
As Bitcoin and Ethereum navigate continued volatility, the strategies of these large corporate holders highlight both the risks and conviction embedded in digital asset treasury models.
With combined holdings representing more than 3% of total BTC and ETH supply, their decisions may continue to influence broader market sentiment.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
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