Bitmine and Strive expand corporate Bitcoin and Ethereum treasuries in Q3

Corporate accumulation of digital assets continued in the third quarter of 2026, with Bitmine Immersion Technologies and Strive announcing significant additions to their respective cryptocurrency treasuries. The moves reflect an ongoing trend of publicly traded companies utilizing digital assets as balance sheet reserves.

Bitmine's Ethereum Holdings Top 6 Million

Bitmine Immersion Technologies reported that its Ethereum holdings reached 6,060,506 $ETH as of Nov. 1 ³. The total represents approximately 4.9% of the circulating Ethereum supply ³. Bitmine's crypto, cash, and marketable securities total $14.5 billion, which includes 216 Bitcoin, $498 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings ³.

Bitmine acquired 8,573 ETH in the week preceding its Nov. 2 announcement ³. The company noted that it has purchased ETH weekly since beginning its treasury strategy in June 2025 ³. Bitmine also reported 5,227,037 staked ETH, valued at $11.8 billion based on a price of $2,261 per ETH, through its MAVAN validator network ³.

Strive Accelerates Bitcoin Accumulation

Strive acquired 15,124 $BTC in October, bringing its year-to-date purchases to 35,497 BTC ². The October purchases were partially funded by a $609 million offering of Strive's SATS perpetual preferred stock ². As of Oct. 30, Strive held 43,124 BTC ².

Strive reported $509 million in third-quarter net income, which included $533.7 million in unrealized gains on its Bitcoin holdings ². The company is exploring potential expansions into decentralized finance, banking, reinsurance, and tokenization to leverage its balance sheet ².

Strategy Pauses, Then Resumes BTC Buys

Strategy Inc. acquired 811 BTC for $65.5 million between Oct. 26 and Nov. 1, paying an average of $80,846 per coin ⁴. The purchases followed a one-week pause in buying, during which Strategy spent $204.9 million buying back shares of its variable-rate preferred stock (STRC) ⁴. As of Nov. 1, Strategy held 849,327 BTC, acquired at an average price of $75,451 ⁴.

During its third-quarter earnings call, Strategy reported a $20.91 billion gain on digital assets, driving $19.53 billion in quarterly net income ⁵. The company also announced the departure of CFO Andrew Kang on Nov. 5 ⁵. Strategy Executive Chairman Michael Saylor indicated the company has the capacity to create up to $30 billion in "digital credit" to fund future Bitcoin acquisitions ⁶.

Franklin Templeton Launches Dividend-to-Bitcoin ETFs

Franklin Templeton launched two exchange-traded funds on the Nasdaq on Oct. 27 that systematically reinvest dividend income into Bitcoin [7, 8]. The Franklin US Equity Bitcoin DRIP Index ETF (FBEQ) and the Franklin US Innovation Bitcoin DRIP Index ETF (FIBT) cap their Bitcoin exposure at 20%, with quarterly rebalances resetting the allocation to 4.5% if it exceeds 5% [7, 8].