Key takeaways
- BitMine Immersion Technologies purchased 71,179 ETH last week for roughly $143 million, its largest single-week buy of 2026.
- The company now holds over 4.73 million ETH, about 3.9% of Ethereum’s total supply, with $9.66 billion in ether on its balance sheet.
- Strategy (formerly MicroStrategy) paused its bitcoin accumulation last week, ending a 13-week buying streak of 90,831 BTC.
- Most corporate crypto treasuries have slowed or stopped buying as bitcoin trades roughly 43% below its November 2024 peak.
Published: March 30, 2026 12:00 UTC
BitMine Immersion Technologies bought 71,179 ether last week at roughly $2,010 per token, spending approximately $143 million in its largest weekly purchase of 2026. The buy lifted BitMine’s total holdings past 4.73 million ETH, worth about $9.66 billion and representing roughly 3.9% of Ethereum’s circulating supply. The purchase came during the same week that Strategy, the largest corporate bitcoin holder, paused its own accumulation for the first time in over three months.
A digital asset treasury company is a publicly traded firm that holds cryptocurrency on its corporate balance sheet as a core business strategy, rather than simply using it for payments or speculation.
BitMine accelerates while others pull back
BitMine has now increased its weekly ETH buying pace for four consecutive weeks, stepping up from a prior average of 45,000 to 50,000 ETH per week. The company’s total crypto and cash holdings stood at $10.7 billion as of March 29, including 197 bitcoin and $961 million in cash and equity stakes.
The acceleration stands out because most other digital asset treasury companies have gone quiet. Between September 2025 and March 2026, publicly traded bitcoin treasury firms grew their collective holdings by 17.1% to over 1.13 million BTC. But strip out Strategy’s purchases, and the rest of the sector’s buying pace has collapsed. Most companies that were accumulating at $100,000-plus have paused or started selling now that bitcoin trades near $67,000.
BitMine has also staked 3.14 million of its ETH, worth roughly $6.5 billion, generating approximately $184 million in annualized staking revenue. The company is completing the rollout of its Made-in-America Validator Network (MAVAN) in the first half of 2026, a staking infrastructure designed to increase yields on its holdings.
Strategy ends its 13-week bitcoin buying streak
On the bitcoin side of the treasury landscape, Strategy appeared to make no purchases last week. Michael Saylor did not post his customary Sunday “Orange Dot” signal on X. Instead, he promoted the company’s perpetual preferred equity offering, STRC.
The pause ended a run of 13 consecutive weekly buys totaling 90,831 BTC. Strategy currently holds 762,099 bitcoin at an average acquisition price of $75,694 per token. At bitcoin’s current price near $67,000, that position is underwater by roughly $6.6 billion on paper.
The company filed a $42 billion at-the-market equity program on March 23, split evenly between $21 billion in MSTR common stock and $21 billion in STRC preferred shares. Analysts interpret the pause as a shift toward preserving cash reserves and supporting STRC dividend payouts rather than buying the dip.
What this signals for corporate crypto treasuries
The divergence between BitMine and Strategy reflects a broader split in how companies approach digital asset treasuries in a down market. More than 200 U.S. companies have announced plans to adopt crypto treasury strategies, aiming to raise roughly $102 billion for digital asset purchases. But the actual pace of deployment has slowed as prices dropped through Q1 2026.
BitMine’s continued buying at scale suggests the company sees current ETH prices near $2,000 as an accumulation opportunity. Its staking revenue provides a yield component that pure bitcoin treasury plays like Strategy do not have, giving BitMine a recurring income stream regardless of price direction.
The next test for both companies comes in April, when Strategy’s $42 billion equity program begins active issuance and BitMine targets the completion of its MAVAN validator rollout.
Frequently asked questions
How much ether does BitMine hold?
As of March 29, 2026, BitMine Immersion Technologies holds over 4.73 million ETH, valued at approximately $9.66 billion. That represents about 3.9% of Ethereum’s total circulating supply, making it the largest corporate holder of ether.
Why did Strategy stop buying bitcoin?
Strategy paused bitcoin purchases after 13 consecutive weeks of buying. The company appears to be prioritizing cash reserves and dividend stability for its STRC preferred shares rather than continuing to accumulate bitcoin while the price trades below its average cost basis.
What is a digital asset treasury company?
A digital asset treasury company, or DATCo, is a publicly traded firm that holds cryptocurrency on its corporate balance sheet as a core part of its business model. Examples include Strategy (bitcoin) and BitMine (ether). These companies use equity offerings and cash flow to buy and hold digital assets at institutional scale.
