As Bitcoin hovers near $87,000, the global cryptocurrency market has seen a high-stakes battlefield. On one side, corporate giants Strategy and BitMine Immersion Technologies poured billions into Bitcoin and Ethereum. Strategy has acquired another 10,645 BTC. Strategy’s latest purchase marks the second consecutive week it has acquired more than 10,000 coins.
The firm now controls a staggering 671,268 BTC – roughly 3.2% of the total 21 million supply, and also funded this latest haul through a “digital credit” engine, selling Class A common stock and a suite of high-yield preferred stocks (STRK, STRF, and STRD). Despite a 41% year-to-date decline in its stock price, Strategy remains the world’s largest corporate crypto treasury. BitMine now holds 3.97 million tokens, accounting for 3.2% of the circulating ether supply. The company calls this mission the “Alchemy of 5%,” which is a strategic goal to own one-twentieth of the entire Ethereum network.
“Ethereum is the future of finance,” Lee recently posted, pointing to JPMorgan’s launch of a tokenized money-market fund on the blockchain as proof of institutional inevitability. To turn this massive treasury into a yielding asset, BitMine plans to deploy its Made in America Validator Network (MAVAN) in early 2026, creating a domestic staking powerhouse. In stark contrast, authorities in China’s Xinjiang region initiated a sweeping shutdown of Bitcoin mining facilities, forcing an estimated 400,000 to 500,000 mining rigs offline virtually overnight, causing a violent tremor in the network’s vital signs. Within 24 hours, the global hashrate plummeted by 100 exahashes per second (EH/s), equal to an 8-10% collapse.
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