{"id":6913,"date":"2026-02-24T08:30:45","date_gmt":"2026-02-24T08:30:45","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=6913"},"modified":"2026-02-24T08:30:45","modified_gmt":"2026-02-24T08:30:45","slug":"strategy-marks-100th-bitcoin-buy-as-bitmine-doubles-down-on-ether-despite-8b-loss","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=6913","title":{"rendered":"Strategy Marks 100th Bitcoin Buy as BitMine Doubles Down on Ether Despite $8B Loss"},"content":{"rendered":"
<\/p>\n
\n
\n
\n
\n
Strategy (MSTR) purchased 592 BTC last week for $39.8 million, bringing its total holdings to 717,722 BTC with an unrealised loss of approximately $7 billion.<\/span><\/li>\n
BitMine Immersion Technologies (BMNR) expanded its Ethereum position by 51,162 ETH, now controlling 3.66% of the total supply with over 3 million ETH staked.<\/span><\/li>\n
Despite ETH falling to $1,918 and BTC trading near $66,000, both firms continue to accumulate, citing attractive entry points and long-term utility.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n
Strategy (MSTR) added 592 Bitcoin last week, spending about US$39.8 million (AU$55 million), funded entirely through common stock sales, according to a US SEC filing.\u00a0<\/p>\n
The purchase price averaged US$67,286 (AU$102,948) per coin, and the company now holds 717,722 BTC acquired for roughly US$54.5 billion (AU$80 billion), or US$76,020 (AU$116,311) on average.\u00a0<\/p>\n\n
With Bitcoin trading just above US$66,000 (AU$100K), the position implies an unrealised loss of about US$7 billion (AU$9.9 billion).<\/p>\n
Read more: XRP Sees Biggest Realised Loss Spike Since 2022: Capitulation or Turning Point?\u00a0<\/strong><\/p>\n
And BitMine Keeps Buying ETH, Too<\/h2>\n
At the same time, BitMine Immersion Technologies (BMNR) expanded its Ethereum position. The firm bought 51,162 ETH last week, worth about US$98 million (AU$138 million). Total holdings now exceed 4.42 million ETH, or about 3.66% of the token\u2019s supply, as of Feb. 22.<\/p>\n
Tom Lee, BitMine chairman, has defended the firm\u2019s position as the losses amount, stating that these are expected and are just part of the game, basically.<\/p>\n
\n
\n
Bitmine has been steadily buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals. In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance.\u201d<\/em><\/p>\n<\/div>\n
\n Tom Lee, Chairman of Bitmine <\/div>\n<\/div>\n
BitMine also reported 193 BTC, US$691 million (AU$978 million) in cash, and equity stakes including US$200 million (AU$283 million) in Beast Industries. It said more than 3 million ETH are staked, generating about US$171 million (AU$261 million) in annualised revenue.<\/p>\n
Ether fell 3% over the past day to around US$1,918 (AU$2,935). Based on data from DropsTab, losses on roughly US$16.4 billion (AU$25 billion) in ETH purchases now exceed US$8 billion (AU$12.2 billion).<\/p>\n
Strategy (MSTR) purchased 592 BTC last week for $39.8 million, bringing its total holdings to 717,722 BTC with an unrealised loss of approximately $7 billion. BitMine Immersion Technologies (BMNR) expanded its Ethereum position by 51,162 ETH, now controlling 3.66% of the total supply with over 3 million ETH staked. Despite ETH falling to $1,918 and<\/p>\n","protected":false},"author":1,"featured_media":6914,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[2770,91,439,266,2440,1165,2388,2272,107],"class_list":{"0":"post-6913","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-100th","9":"tag-bitcoin","10":"tag-bitmine","11":"tag-buy","12":"tag-doubles","13":"tag-ether","14":"tag-loss","15":"tag-marks","16":"tag-strategy"},"yoast_head":"\n
Strategy Marks 100th Bitcoin Buy as BitMine Doubles Down on Ether Despite $8B Loss - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=6913\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Strategy Marks 100th Bitcoin Buy as BitMine Doubles Down on Ether Despite $8B Loss\" \/>\n<meta property=\"og:description\" content=\"Strategy (MSTR) purchased 592 BTC last week for $39.8 million, bringing its total holdings to 717,722 BTC with an unrealised loss of approximately $7 billion. BitMine Immersion Technologies (BMNR) expanded its Ethereum position by 51,162 ETH, now controlling 3.66% of the total supply with over 3 million ETH staked. Despite ETH falling to $1,918 and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=6913\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-24T08:30:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.cryptonews.com.au\/2024\/07\/03143301\/Tom-Lee-1.jpg\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=6913\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=6913\",\"name\":\"Strategy Marks 100th Bitcoin Buy as BitMine Doubles Down on Ether Despite $8B Loss - Crypto News: Latest Cryptocurrency News and Analysis\",\"isPartOf\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=6913#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=6913#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/02\/bitcoin-ethereum.jpeg\",\"datePublished\":\"2026-02-24T08:30:45+00:00\",\"author\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\"},\"breadcrumb\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=6913#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptonews.uk.com\/?p=6913\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=6913#primaryimage\",\"url\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/02\/bitcoin-ethereum.jpeg\",\"contentUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/02\/bitcoin-ethereum.jpeg\",\"width\":1920,\"height\":1280},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=6913#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptonews.uk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Strategy Marks 100th Bitcoin Buy as BitMine Doubles Down on Ether Despite $8B Loss\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptonews.uk.com\/#website\",\"url\":\"https:\/\/cryptonews.uk.com\/\",\"name\":\"Crypto News: Latest Cryptocurrency News and Analysis\",\"description\":\"Latest Crypto & Bitcoin News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/cryptonews.uk.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\",\"name\":\"\u884c\u653f\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e4c2d23409b09e004cef3facbe677e95c5401f9e29680f3a311e0130c5748089?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e4c2d23409b09e004cef3facbe677e95c5401f9e29680f3a311e0130c5748089?s=96&d=mm&r=g\",\"caption\":\"\u884c\u653f\"},\"sameAs\":[\"http:\/\/demo3.aiwalls.com\/coinbase\"],\"url\":\"https:\/\/cryptonews.uk.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Strategy Marks 100th Bitcoin Buy as BitMine Doubles Down on Ether Despite $8B Loss - Crypto News: Latest Cryptocurrency News and Analysis","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptonews.uk.com\/?p=6913","og_locale":"en_US","og_type":"article","og_title":"Strategy Marks 100th Bitcoin Buy as BitMine Doubles Down on Ether Despite $8B Loss","og_description":"Strategy (MSTR) purchased 592 BTC last week for $39.8 million, bringing its total holdings to 717,722 BTC with an unrealised loss of approximately $7 billion. BitMine Immersion Technologies (BMNR) expanded its Ethereum position by 51,162 ETH, now controlling 3.66% of the total supply with over 3 million ETH staked. Despite ETH falling to $1,918 and","og_url":"https:\/\/cryptonews.uk.com\/?p=6913","og_site_name":"Crypto News: Latest Cryptocurrency News and Analysis","article_published_time":"2026-02-24T08:30:45+00:00","og_image":[{"url":"https:\/\/cdn.cryptonews.com.au\/2024\/07\/03143301\/Tom-Lee-1.jpg","type":"","width":"","height":""}],"author":"\u884c\u653f","twitter_card":"summary_large_image","twitter_misc":{"Written by":"\u884c\u653f","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/cryptonews.uk.com\/?p=6913","url":"https:\/\/cryptonews.uk.com\/?p=6913","name":"Strategy Marks 100th Bitcoin Buy as BitMine Doubles Down on Ether Despite $8B Loss - Crypto News: Latest Cryptocurrency News and Analysis","isPartOf":{"@id":"https:\/\/cryptonews.uk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cryptonews.uk.com\/?p=6913#primaryimage"},"image":{"@id":"https:\/\/cryptonews.uk.com\/?p=6913#primaryimage"},"thumbnailUrl":"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/02\/bitcoin-ethereum.jpeg","datePublished":"2026-02-24T08:30:45+00:00","author":{"@id":"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf"},"breadcrumb":{"@id":"https:\/\/cryptonews.uk.com\/?p=6913#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptonews.uk.com\/?p=6913"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptonews.uk.com\/?p=6913#primaryimage","url":"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/02\/bitcoin-ethereum.jpeg","contentUrl":"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/02\/bitcoin-ethereum.jpeg","width":1920,"height":1280},{"@type":"BreadcrumbList","@id":"https:\/\/cryptonews.uk.com\/?p=6913#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptonews.uk.com\/"},{"@type":"ListItem","position":2,"name":"Strategy Marks 100th Bitcoin Buy as BitMine Doubles Down on Ether Despite $8B Loss"}]},{"@type":"WebSite","@id":"https:\/\/cryptonews.uk.com\/#website","url":"https:\/\/cryptonews.uk.com\/","name":"Crypto News: Latest Cryptocurrency News and Analysis","description":"Latest Crypto & Bitcoin News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cryptonews.uk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf","name":"\u884c\u653f","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptonews.uk.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e4c2d23409b09e004cef3facbe677e95c5401f9e29680f3a311e0130c5748089?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e4c2d23409b09e004cef3facbe677e95c5401f9e29680f3a311e0130c5748089?s=96&d=mm&r=g","caption":"\u884c\u653f"},"sameAs":["http:\/\/demo3.aiwalls.com\/coinbase"],"url":"https:\/\/cryptonews.uk.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/posts\/6913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6913"}],"version-history":[{"count":0,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/posts\/6913\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/media\/6914"}],"wp:attachment":[{"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![](\"https:\/\/cdn.cryptonews.com.au\/2024\/07\/03143301\/Tom-Lee-1.jpg\"\/)
![](\"https:\/\/cdn.cryptonews.com.au\/2024\/07\/03143301\/Tom-Lee-1.jpg\")
Tom Lee, Chairman of Bitmine <\/div>\n<\/div>\n