--- title: "Bitmine and Strive expand corporate Bitcoin and Ethereum treasuries in Q3" description: "Bitmine Immersion Technologies now holds over 6 million ETH, while Strive purchased 15,124 BTC in October." url: https://basisdesk.news/analysis/bitmine-strive-strategy-crypto-treasuries-q3 published: 2026-11-07T14:01:18.123Z modified: 2026-11-07T14:01:18.123Z section: Institutions & ETFs author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: neutral tickers: [BTC, ETH] tags: [corporate treasury, earnings, bitcoin accumulation] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # Bitmine and Strive expand corporate Bitcoin and Ethereum treasuries in Q3 Bitmine Immersion Technologies now holds over 6 million ETH, while Strive purchased 15,124 BTC in October. ## At a glance - **What happened:** Bitmine, Strive, and Strategy reported significant additions to their corporate digital asset treasuries. - **Why it matters:** Public companies continue to allocate substantial capital to Bitcoin and Ethereum, effectively removing circulating supply. - **Who is affected:** Shareholders of Bitmine, Strive, and Strategy. - **Takes effect:** 2026-11-11 - **What's next:** MSCI will publish a list of companies affected by new index rules on Nov. 11. - **Primary source:** [8-K - Current report](https://www.sec.gov/Archives/edgar/data/1050446/000119312526403417/0001193125-26-403417-index.htm) — SEC EDGAR — Strategy (MSTR) 8-K ## Key points - Bitmine holds 6,060,506 ETH, representing 4.9% of total supply, alongside $498M in cash and securities. - Strive purchased 15,124 BTC in October, bringing its total holdings to 43,124 BTC as of Oct. 30. - Strategy resumed Bitcoin acquisitions, adding 811 BTC for $65.5 million after a one-week pause. ## Editorial remark - **Context:** Public companies are increasingly using digital assets as treasury reserves, with entities like Strategy pioneering the approach. The trend has expanded from Bitcoin to Ethereum. - **Impact:** The ongoing accumulation by corporate treasuries removes significant supply from the market. Bitmine's staking operations also lock up substantial ETH liquidity. - **Watch:** Market participants will monitor MSCI's equity index rebalancing on Nov. 11, which could affect companies dominated by single assets like Strategy. 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]. ## Sources 1. [8-K - Current report](https://www.sec.gov/Archives/edgar/data/1050446/000119312526403417/0001193125-26-403417-index.htm) — SEC EDGAR — Strategy (MSTR) 8-K, 2026-09-28 2. [Strive buys 15,124 Bitcoin in October, closes in on top treasury holders](https://cointelegraph.com/news/strive-buys-bitcoin-october-top-btc-corporate-holders?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound) — cointelegraph.com, 2026-11-06 3. [Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 6.06 Million Tokens, and Total Crypto and Total Cash & Marketable Securities Holdings of $14.5 Billion](https://www.prnewswire.com/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-6-06-million-tokens-and-total-crypto-and-total-cash--marketable-securities-holdings-of-14-5-billion-302926341.html) — prnewswire.com, 2026-11-02 4. [Strategy Resumes Bitcoin Buys With $66M Purchase](https://decrypt.co/382333/strategy-resumes-bitcoin-buys-with-66m-purchase) — decrypt.co, 2026-11-02 5. [Strategy Sold 5,552 Bitcoin and Bought 7,218 in Q3 as a $20.9 Billion Markup Drove Profit](https://unchainedcrypto.com/strategy-sold-5552-bitcoin-and-bought-7218-in-q3-as-a-20-9-billion-markup-drove-profit/) — unchainedcrypto.com, 2026-10-30 6. [Strategy eyes more Bitcoin buys as Saylor touts $30B credit capacity](https://cointelegraph.com/news/strategy-30-billion-digital-credit-capacity-bitcoin-buys?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound) — cointelegraph.com, 2026-10-30 7. [Franklin Templeton’s Dividend-to-Bitcoin ETFs Open on Nasdaq With About $72,000 in Trades](https://www.sec.gov/Archives/edgar/data/1655589/000165558926001400/c497k.htm) — sec.gov, 2026-10-27 8. [Franklin Templeton’s Dividend-to-Bitcoin ETFs Open on Nasdaq With About $72,000 in Trades](https://www.sec.gov/Archives/edgar/data/1655589/000165558926001401/c497k.htm) — sec.gov, 2026-10-27 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai