Crypto Companies News

Strategy Sold Its First BTC in Years, BitMine Continued Aggressive ETH Buying

Nana K.

2 June 2026 2 min read

We explain what is happening with the wallets of the two largest corporate crypto holders—Strategy and BitMine.

The largest corporate Bitcoin (BTC) holder, Strategy, sold a portion of its holdings for the first time in several years. Simultaneously, BitMine, under Tom Lee’s leadership, continued its steady accumulation of Ethereum (ETH).

Hot topic: Bitcoin Price Falls Near $70K As ETF Outflows Hit Sentiment

Contents

1.Strategy Sold 32 BTC—First Time in Years
2.BitMine's Purchases Over the Same Period
3.Week's Summary

Strategy Sold 32 BTC—First Time in Years

Strategy sold 32 BTC▼$62,542.00 for $2.5M at an average price of $77,135 per coin. The transaction occurred between May 26 and May 31, 2026. The proceeds will be used to pay dividends on its STRC preferred shares.

This is Strategy’s first sale since December 2022, when the company sold 704 BTC for tax reasons and almost immediately bought back 810 BTC. At the time of the sale, Strategy held 843,706 BTC. The average purchase price of all coins is $75,700. At current prices, reserves are valued at approximately $60.8B.

The news triggered a negative market reaction. Strategy’s shares (MSTR) fell more than 6% at market open. Bitcoin updated its local low, dropping below $70,000.

BitMine’s Purchases Over the Same Period

Meanwhile, BitMine Immersion Technologies acquired an additional 26,497 ETH▼$1,663.61 worth approximately $52M at an average price of $2,003.

3/
"Over the past week, we acquired 26,497 ETH. In our view, ETH prices are not reflecting the strengthening of Ethereum fundamentals, but then again, this is not surprising given we are in the early stages of crypto spring. Bitmine is expected to reach the 'alchemy of 5%'…
— Bitmine (NYSE-BMNR) $ETH (@BitMNR) June 1, 2026

The company now holds 5.42 million ETH, which is 4.49% of Ethereum’s total supply. BitMine remains the largest corporate ETH holder in the world and the second-largest crypto treasury after Strategy.

Tom Lee stated that ETH’s current price does not reflect the network’s fundamental strength and that the market is in the “early stages of crypto spring.” The company maintains its goal of reaching 5% of Ethereum supply during 2026.

BitMine has already staked 4.72 million ETH and expects approximately $296M in annual staking income after fully transitioning to the MAVAN platform.

Week’s Summary

Strategy broke its multi-year “never sell” BTC strategy to meet dividend obligations.
BitMine continued its steady accumulation of Ethereum on the dip, demonstrating long-term confidence in the asset.

Strategy’s sale put additional pressure on BTC’s price, while BitMine’s purchases highlighted institutional interest in Ethereum even amid a broader correction.

Learn more: Why Bitcoin Education is More Important Than Ever in 2026