BitMine Nears ETH Target as Strategy Keeps BTC Reserve

Strategy did not make any Bitcoin purchases or sales last week, keeping its reserve at $845 million in BTC. Instead, it bought preferred shares STRC for $176.3 million and doubled its share buyback program to $2 billion.

In the same period, BitMine acquired 28,086 ETH, increasing its holdings to 5.93 million ETH, roughly 4.9% of the circulating supply, with a stated goal of reaching 5%. This development comes as the market capitalization of all cryptocurrencies surged past $2.79 trillion, with Ethereum's spot volume declining by 2.31% in the last 24 hours.