Strategy Boosts Bitcoin Stack as Strive and Bitmine Expand Crypto Holdings

Strategy ($MSTR), led by Michael Saylor, expanded its Bitcoin holdings to 848,000 BTC after acquiring 334 BTC between late September and October 4 for approximately $28.7 million. The purchase, disclosed in an SEC filing, was funded by selling Class A common stock and using cash reserves. The company's total Bitcoin stack was acquired for about $64 billion at an average cost of $75,441 per coin, with recent valuations placing it around $73 billion, indicating paper gains of roughly $9 billion.

Strive ($ASST) also made significant moves, purchasing 2,000 BTC between September 28 and October 2 for about $169 million. This brought its total holdings to 29,462 BTC, valued at approximately $2.55 billion, narrowing the gap with MARA Holdings, which holds 35,577 BTC. Strive's acquisition was funded primarily through sales of SATA preferred shares and warrant exercises.

On the Ethereum side, Bitmine Immersion Technologies ($BMNR) reported a total of 6,016,414 ETH as part of its $17.4 billion in combined crypto, cash, and other investments as of October 4. The company has been consistently adding ETH since June 30, 2025, with about 84 percent of its balance staked, generating projected annualized staking revenue of near $363 million. Chairman Tom Lee noted that Ether's outperformance of the S&P 500 by 6,832 basis points in the third quarter of 2026 was significant given the current economic conditions.