MSTR Stock Dips After New Bitcoin Buy – BMNR Slows Pace Of Ethereum Accumulation

• Strategy shares fell at market opoen after the company disclosed a new purchase of 535 Bitcoin worth approximately $43 million.
• The purchase comes after Michael Saylor said Strategy may consider selling Bitcoin if it improves “Bitcoin per share.”
• BMNR’s latest Ethereum purchase totaled roughly 26,659 ETH, down sharply from the company’s recent buying pace of more than 100,000 ETH per week.

Shares of Strategy (MSTR) dropped, while Bitmine Immersion Technologies (BMNR) edged higher at market open after digital asset treasuries (DATs) announced their latest Bitcoin (BTC) and Ethereum (ETH) acquisitions, respectively, amid a muted cryptocurrency market.

MSTR’s stock fell as much as 1.5%. Retail sentiment around the company on Stocktwits trended in ‘bullish’ territory over the past day, accompanied by ‘high’ levels of chatter.

BMNR’s stock moved 1% higher, but retail sentiment dipped to ‘bearish’ from ‘neutral’ territory, amid ‘low’ levels of chatter.

Bitcoin’s price was struggling to hold $81,000, while Ethereum’s price held above the $2,300 level in early trading.

Strategy Expands Bitcoin Treasury Amid BTC Sale Speculation

Strategy disclosed that it acquired 535 BTC over the past week for around $43 million, paying an average price of roughly $80,340 per Bitcoin. The company now holds a total of 818,869 BTC on its balance sheet, acquired at around $75,540 per Bitcoin. Strategy also said its BTC Yield reached 9.4% year-to-date in 2026.

The latest purchase comes on the heels of executive chairman Michael Saylor stating during the company’s first-quarter (Q1) earnings call that Strategy may eventually sell some of its Bitcoin holdings if doing so improves shareholder value. 

“Our ability to sell Bitcoin either to buy U.S. dollars or sell Bitcoin to buy debt if it's accretive to Bitcoin per share is something that we would consider doing going forward,” Saylor said during the call.

Wall Street analysts backed the new flexibility, with BTIG raising its price target on MSTR’s stock to $350 from $250 following the earnings call. The firm maintained a ‘Buy’ rating and said management’s willingness to optimize the balance sheet through selective Bitcoin sales was viewed positively.

Bitmine Slows Ethereum Buying After Aggressive Accumulation Run

Tom Lee-backed Bitmine announced that its Ethereum holdings increased to 5.2 million ETH, up from the previously reported 5.18 million ETH. It purchased roughly 26,659 ETH over the past week, a significant drop from its recent buying pace of over 100,000 ETH. 

Bitmine said its total assets now stand at approximately $13.4 billion, including 201 BTC, stakes in Beast Industries and Eightco Holdings (ORBS), and roughly $775 million in cash.  The company added that it has now staked over 4.7 million ETH of its holdings, worth around $11.1 billion, with the Made in America Validator Network (MAVAN). 

BMNR now controls approximately 4.31% of Ethereum’s circulating supply, moving closer to its stated “alchemy of 5%” ownership target. Last week at Consensus Miami 2026, BMNR chairman Tom Lee stated the company may intentionally slow its Ethereum accumulation strategy.

“I do think we’re going to slow down our pace of buying,” Lee said during an onstage appearance. “I’m not sure we want to get to 5% too quickly.” He estimated that if Bitmine maintained its prior buying pace, it could reach the 5% threshold within six weeks. “I think we’re deciding perhaps we want to accumulate at a somewhat slower pace, because there are other things to be doing in crypto right now,” Lee added.

Strategy remains the world’s largest corporate Bitcoin holder, while Bitmine is the largest institutional Ethereum holder. MSTR’s stock has gained over 20% this year, while Bitcoin’s price has fallen over 7%. Meanwhile, BMNR’s stock and Ethereum’s price have fallen by over 20% this year.

Read also: MARA, CLSK Stocks Face Earnings Test After Last Week’s AI-Fueled Rally: Retail Sentiment Diverges

For updates and corrections, email newsroom[at]stocktwits[dot]com