Strategy and Bitmine Boost BTC, ETH Reserves in Market Downturn

Elena Rossi February 17, 2026 2 min read

This week, the leading publicly listed companies managing cryptocurrency treasuries significantly increased their digital asset reserves. Strategy acquired an additional 2,486 Bitcoin, while Bitmine Immersion Technologies purchased 45,759 Ether, with the combined investment totaling approximately $260 million.

Strategy announced that it allocated $168.4 million toward Bitcoin acquisitions between February 9 and 16, elevating its overall holdings to 717,131 BTC. These purchases were financed via its at-the-market share sales program, which included the sale of 785,354 shares of STRC preferred stock generating $78.4 million in net proceeds, along with 660,000 shares of Class A common stock yielding $90.5 million.

Source: Strategy

As reported on Monday, Strategy’s cumulative purchase price for its Bitcoin portfolio stands at $54.52 billion, reflecting an average cost of $76,027 per BTC. The most recent acquisitions were executed at an average price of $67,710 per Bitcoin.

Bitmine, recognized as the top Ether treasury firm, now possesses 4,371,497 ETH, equivalent to 3.62% of the total 120.7 million ETH circulating supply. Among these holdings, 3,040,483 ETH remain staked, carrying a valuation of roughly $6.1 billion at a price of $1,998 per ETH. This staked portion is projected to generate approximately $176 million in annualized staking rewards.

In addition, Bitmine disclosed comprehensive assets encompassing cryptocurrencies, cash reserves, and various investments totaling $9.6 billion. This portfolio breaks down to include $670 million in cash, 193 BTC, a $200 million investment in Beast Industries, and a $17 million position in Eightco Holdings.

These expansions occurred against a backdrop of persistent declines in both Bitcoin and Ether prices. At the time of this report, Bitcoin was exchanging hands around $66,700, marking a roughly 30% drop over the preceding 30 days.

Ether, meanwhile, lingered near $1,990, experiencing a steeper fall exceeding 40% during the same timeframe, per data from CoinGecko.

Crypto Treasury Stocks Plunge as Bitcoin Falls from October Highs

With the wider cryptocurrency market pulling back from Bitcoin’s impressive October peak surpassing $126,000, publicly traded firms that maintain substantial cryptocurrency reserves as core assets have witnessed dramatic drops in their stock values.

Strategy’s shares are presently hovering around $129, representing a staggering 72% decline from their peak of $455.90 on July 16, 2025, based on Yahoo Finance figures. Bitmine’s stock has endured an even more severe downturn, trading near $20—a drop of about 85% from its July 3 pinnacle of $135. Nevertheless, over the past year, the stock has still climbed nearly 175%.

Source: Yahoo Finance

SharpLink Gaming, holding the second-largest Ether treasury with 864,840 ETH (approximately 0.72% of the total supply), has also faced substantial share price erosion. Currently, its stock trades around $6.55, a sharp descent from $79.21 as of May 29.

MARA Holdings, owner of 53,250 BTC and the second-biggest publicly traded Bitcoin accumulator, is quoted near $7.48, down from $22.84 on October 15, equating to a 67% reduction.

Data from BitcoinTreasuries.NET indicates that 194 publicly traded entities collectively control 1.136 million Bitcoin, with a current market value approximating $76 billion.

In contrast, 28 organizations hold 6,301,185 Ether, valued at around $12.5 billion, according to CoinGecko statistics.