Meanwhile, the largest Ethereum DAT, Bitmine, made its smallest ETH purchase since January, announcing it will slow its weekly purchase pace.
The largest digital asset treasury company, Michael Saylor’s Strategy, resumed its Bitcoin (BTC) purchases last week after a one-week pause, the company announced on X. Strategy bought 535 BTC — its smallest weekly purchase since December — for about $43 million total, and an average price per BTC of about $80,340.
Last week’s buy brought the firm’s total Bitcoin treasury to 818,869 BTC, as of May 10. Strategy’s latest purchase comes less than a week after Saylor made waves during the firm’s first-quarter earnings call, announcing that the company would consider selling Bitcoin to fund dividends for its STRC perpetual preferred stock program, which was introduced last July.
Saylor has famously made calls to “never sell Bitcoin.” On a podcast following the earnings call, Strategy’s founder clarified his position as being “never be a net seller of Bitcoin.” Saylor also noted that the firm would buy 10-20 BTC for ever Bitcoin it potentially sold.
Bitmine Also Slows Buys
Meanwhile, the second-largest DAT globally, Bitmine Immersion Technologies, also made a smaller weekly purchase than usual, adding 26,659 Ethereum (ETH) to its treasury, according to CoinGecko.
In a press release today, May 11, Bitmine chairman Tom Lee said “We have decided to slow down our pace of weekly accumulation from >100,000 per week[.]” The DAT’s past three weekly purchases have each been for over 101,000 ETH. The firm had previously set its more agressive target of accumulating 5% of the ETH supply in late 2026.
Bitmine now holds a total of 5.21 million ETH and is staking over 4.7 million ETH as of May 10, per the release.
Currently, Bitmine is over $6.5 billion in the red in unrealized P&L over the past year, according to data from Artemis. Strategy, on the other hand, is sitting on over $5.1 billion in unrealized net profit on its Bitcoin holdings.
