{"id":12312,"date":"2026-08-24T20:02:12","date_gmt":"2026-08-24T20:02:12","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=12312"},"modified":"2026-08-24T20:02:12","modified_gmt":"2026-08-24T20:02:12","slug":"strategy-holds-cash-as-bitmine-buys-ethereum","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=12312","title":{"rendered":"Strategy Holds Cash as BitMine Buys Ethereum"},"content":{"rendered":"

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Bitcoin and Ethereum surged last week as falling Treasury yields, renewed US crypto optimism, and a wave of short liquidations sent digital assets sharply higher.<\/p>\n

Bitcoin climbed more than 20% and approached $80,000, while Ethereum gained about 30% in its strongest weekly advance since May 2025.<\/p>\n

The rally drew fresh $2.6 billion in ETF inflows, forced billions of dollars in bearish positions out of the market, and pushed both assets to multi-month highs.<\/p>\n

Interestingly, the breakout produced a sharp split between the companies behind crypto\u2019s two largest corporate treasuries.<\/p>\n

Strategy, the largest corporate holder of Bitcoin, used the strength to raise capital without adding to its BTC holdings, while BitMine Immersion Technologies, the largest ETH holding company, continued buying the digital asset into the rally.<\/p>\n

Strategy uses the rally to build a $6.7 billion cash buffer<\/h2>\n

Strategy’s decision to sit out Bitcoin’s breakout coincided with one of its largest capital raises, leaving the company with more cash to deploy than at any point in its Bitcoin-buying campaign.<\/p>\n

Between Aug. 17 and Aug. 23, Strategy said that it sold 18.26 million MSTR shares for about $2.01 billion in net proceeds.<\/p>\n

Rather than recycle that money into Bitcoin, it directed $300 million into its existing USD Reserve, used $136.4 million to repurchase STRC preferred shares, and placed most of the remainder into a newly created USD Cash account.<\/p>\n

That pushed the company’s dollar liquidity to $6.69 billion as of Aug. 23, including $5.10 billion in its reserve and $1.59 billion in the new cash pool.<\/p>\n

The distinction between the two accounts gives Strategy considerably more flexibility than the headline cash figure suggests.<\/p>\n

The USD Reserve is primarily intended to cover preferred-stock dividends and interest obligations, while USD Cash can be used to buy Bitcoin, repurchase MSTR or preferred shares, repay convertible debt or fund other treasury transactions.<\/p>\n

Strategy said the additional liquidity would allow it to respond more quickly to market conditions, including \u201cdislocations\u201d in Bitcoin and its own securities.<\/p>\n

The timing stands out because Bitcoin’s rally carried the asset back above Strategy’s average acquisition price of $75,385.<\/p>\n

The company currently owns 840,447 BTC acquired for about $63.36 billion, but did not add to that position during a week when capital markets were strong enough for it to raise more than $2 billion from common shareholders.<\/p>\n

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Strategy’s Bitcoin Holdings (Source: SaylorTracker)<\/figcaption><\/figure>\n

Instead, Strategy used part of the proceeds to retire 1.43 million STRC shares, adding another layer to a capital-allocation strategy that now extends well beyond simply issuing equity to buy Bitcoin.<\/p>\n