Bitmine Buys More ETH, Strategy Posts $17B Loss—What’s the Difference?
Bitmine Immersion Technologies (BMNR) announced Monday that its Ethereum holdings have reached 4.14 million ETH, valued at roughly $13.2 billion. The firm now owns 3.43% of the whole Ethereum provide, with 779,000 ETH already producing staking yield.
The aggressive accumulation contrasts sharply with Strategy Inc. (MSTR), which disclosed a $17.44 billion unrealized loss in the fourth quarter on the identical day.
Bitmine Bets On Staking Yield
Bitmine Chairman Tom Lee stated the firm acquired 32,977 ETH in the last week of 2025, sustaining its standing as the largest “contemporary cash” purchaser of Ethereum globally. The firm goals to build up 5% of the whole provide, a goal Lee calls the “Alchemy of 5%.”
“We are enthusiastic about the prospects for Ethereum in 2026 given the a number of tailwinds of US authorities assist for crypto, Wall Street embracing stablecoins and tokenization,” Lee stated.
Meanwhile, Onchain Lens data showed that Bitmine staked an extra 186,336 ETH, value $604 million, bringing whole staked holdings to 779,488 ETH, valued at $2.52 billion.
Bitmine’s staking technique addresses a core weak point of digital asset treasuries. Crypto holdings generate no earnings, whereas firms should service debt and pay dividends. The firm plans to launch its Made in America Validator Network (MAVAN) in Q1 2026. At full deployment, Bitmine initiatives annual staking income of $374 million—over $1 million day by day.
Strategy’s Losing Streak Deepens
Strategy, the pioneering Bitcoin treasury firm led by Michael Saylor, faces mounting stress. Its inventory tumbled 48% in 2025, plunging practically 70% from the November 2024 peak. The firm posted $17.44 billion in unrealized losses in the fourth quarter alone. The full-year 2025 determine got here in at $5.4 billion—far smaller as a result of features earlier in the yr partially offset the This autumn collapse.
Its inventory tumbled 48% in 2025, plunging practically 70% from the November 2024 peak. The firm’s mNAV—the ratio of market cap plus debt to token holdings—has fallen to simply above 1, eroding the premium traders as soon as paid for leveraged Bitcoin publicity. Strategy established a $2.25 billion money reserve in December to handle issues about servicing obligations, but it surely generates no yield from its 673,783 Bitcoin, that are value roughly $63 billion.
Two Models, One Question
Both firms stay uncovered to crypto volatility, however their diverging approaches—yield-generating staking versus pure value appreciation—might decide which treasury mannequin proves sustainable as institutional adoption accelerates.
The put up Bitmine Buys More ETH, Strategy Posts $17B Loss—What’s the Difference? appeared first on BeInCrypto.
