Major Crypto Treasury Companies Increase Bitcoin and Ether Holdings
- Strategy acquired an additional 2,486 Bitcoin, raising its total to 717,131 BTC.
- Bitmine Immersion Technologies purchased 45,759 Ether, increasing its holdings to approximately 4.37 million ETH.
- The combined expenditure for these acquisitions was around $260 million, with Strategy spending $168.4 million on Bitcoin purchases from February 9-16.
- As of now, Strategy’s average acquisition cost per BTC is $76,027, while Bitmine’s staked ETH is valued at about $6.1 billion.
- Both companies are experiencing significant declines in share prices amid a broader market downturn.
The recent purchases by Strategy and Bitmine reflect a strategic move to bolster their digital asset reserves despite the ongoing slide in cryptocurrency prices, with Bitcoin down approximately 30% and Ether over 40% in the past month.
Currently trading around $66,700 for Bitcoin and $1,990 for Ether, these companies are navigating a challenging market environment while significantly expanding their holdings.(Source)
