Expande Bitcoin Holdings Strategy With $90M Buy, Bitmine follows with ETH

[Ben Graham]

Strategy, formerly known as MicroStrategy, is continuing its long‑standing Bitcoin (BTC) accumulation strategy despite ongoing market weakness and growing concerns around the firm’s unrealized losses. 

At the same time, Bitmine Immersion Technologies, chaired by well‑known market strategist Tom Lee, has revealed a major expansion of its Ethereum (ETH) holdings, underscoring a broader trend of corporate crypto accumulation even as prices remain under pressure.

Strategy Adds 1,142 BTC Despite Rising Losses 

In a filing with the US Securities and Exchange Commission disclosed on Monday, Strategy reported the purchase of an additional 1,142 Bitcoin for approximately $90 million. 

The acquisition was made between February 2 and February 8 at an average price of $78,815 per coin, according to the company’s 8‑K filing with the regulator. The move extends Strategy’s aggressive Bitcoin buying campaign, even as the value of its massive crypto treasury remains below its total acquisition cost on paper.

With the latest purchase, Strategy’s total Bitcoin holdings have climbed to 714,644 BTC, a position currently valued at roughly $49 billion based on prevailing market prices. 

The company has spent about $54.4 billion to build its Bitcoin reserves, including fees and related expenses. Across all acquisitions, Strategy’s average purchase price now stands at $76,056 per Bitcoin, well above current trading prices.

Concerns around Strategy’s balance sheet have resurfaced amid the recent Bitcoin sell‑off. As previously reported by NewsBTC, CEO Phong Le stated that Bitcoin would need to fall by roughly 90% from current levels for the value of Strategy’s Bitcoin holdings to merely match the value of its outstanding convertible debt. 

Even under such an extreme scenario, Le said the company would explore restructuring options if converting the debt into equity were not feasible.

Bitmine’s Crypto And Cash Holdings Reach $10B 

On Monday, Bitmine disclosed that its combined crypto holdings, cash, and so‑called “moonshot” investments now total approximately $10 billion. As of February 8, the company’s crypto portfolio includes 4,325,738 ETH valued at $2,125 per token, alongside 193 Bitcoin.

Beyond cryptocurrencies, Bitmine reported additional investments including a $200 million stake in Beast Industries, a $19 million stake in Eightco Holdings (ORBS), and total cash reserves of $595 million. 

The company noted in a Monday press release that its Ethereum holdings represent approximately 3.58% of the total ETH supply, which currently stands at around 120.7 million tokens.

Thomas Lee, Executive Chairman of Bitmine, said the company acquired 40,613 ETH over the past week alone. He described the recent pullback in Ethereum prices as an attractive opportunity, arguing that the market is underestimating ETH’s long‑term utility. 

Bitmine also revealed that a significant portion of its Ethereum holdings is actively staked. As of February 8, 2026, the company had 2,897,459 ETH staked, valued at approximately $6.2 billion at current prices.

At the time of writing, Bitcoin was trading near $69,495, reflecting an almost 11% decline over the past week. Strategy’s shares showed a modest rebound, rising 0.82% on Monday to trade around $136 per share. Bitmine’s stock, BMNR, also moved higher, climbing roughly 2% during Monday’s session to trade near $20.91.

Featured image from OpenArt, chart from TradingView.com