Strive, American Bitcoin, and Bitmine Expand Crypto Treasuries While Strategy Sells 1,638 BTC
Key Takeaways
- •Strategy sold 1,638 BTC for approximately $104.7 million at an average price of $63,957, roughly $10,000 below its acquisition cost, realizing a loss on the coins divested while still holding 842,138 BTC.
- •Strive purchased 20 BTC at approximately $63,191 each, extending its accumulation streak and keeping its position as the seventh-largest public corporate Bitcoin holder with 20,020 BTC total.
- •American Bitcoin exceeded 8,000 BTC in total holdings and reported record Q2 mining output, even as its share price fell more than 95% from its post-IPO peak and a 1-for-15 reverse stock split was executed to maintain Nasdaq compliance.
- •Bitmine grew its Ether treasury to 5,797,813 ETH, representing 4.8% of Ethereum's 120.7 million-token supply, making it both the largest corporate ETH holder and the second-largest corporate crypto treasury of any kind.
- •Proceeds from Strategy's Bitcoin sale were used to cover preferred-stock dividends and repurchase STRC shares, bringing the company's dollar reserve to $4 billion.
Strive (NASDAQ: ASST), American Bitcoin (NASDAQ: ABTC), and Bitmine (NYSE: BMNR) all expanded their respective crypto treasuries this week, even as Strategy — the largest corporate Bitcoin holder — sold 1,638 BTC for approximately $104.7 million to fund dividends and bolster cash reserves.
The contrasting approaches underscore a widening gap between crypto's most prominent corporate name and smaller treasury firms seeking to accumulate during a market downturn. BTC traded near $63,135 on Monday, well below the levels at which many companies originally built their positions. The treasury-company model — using publicly traded equity to raise capital specifically for accumulating digital assets — was pioneered by Strategy (then MicroStrategy) in 2020 and has since attracted dozens of imitators across both Bitcoin and Ether.
Strive Adds 20 BTC at a Discount
Strive CEO Matt Cole announced on X on August 3 that the firm purchased 20 BTC at roughly $63,191 each, totaling $1.3 million. Cole described the acquisition as modest, but it extended Strive's ongoing accumulation streak.
Strive now ranks seventh among public corporate Bitcoin holders with 20,020 BTC. The company trades under the ASST ticker and pays a preferred dividend on its SATA shares. During Q2, Strive acquired 6,236 BTC, achieving a 24% Bitcoin yield for the quarter.
Cole has characterized Bitcoin's recent price decline as a buying opportunity, arguing the cryptocurrency remains in a "super cycle."
American Bitcoin's Holdings Surpass 8,000 BTC
American Bitcoin, the mining and treasury venture associated with Eric Trump, pushed its crypto holdings above 8,000 BTC. The firm reported record mining output for Q2 on August 3. Trading as ABTC, American Bitcoin ranks 16th among public crypto holders.
The company has continued accumulating Bitcoin despite its share price falling more than 95% from its post-IPO peak — a divergence that highlights how equity market valuations for treasury firms can decouple from the underlying asset value, particularly when investors discount the premium often attached to crypto-linked stocks. On July 2, American Bitcoin executed a 1-for-15 reverse stock split to maintain compliance with Nasdaq's $1.00 minimum bid requirement.
Hut 8, the Canadian mining company holding approximately 80% of American Bitcoin, has indicated plans to gradually reduce its own Bitcoin holdings over time. American Bitcoin released its Q2 2026 results earlier this week.
Bitmine's Ether Treasury Approaches 5% of Supply
Bitmine Immersion Technologies, the most aggressive buyer among the three firms, is not accumulating Bitcoin. Instead, the company announced it has grown its Ether treasury to 5,797,813 ETH after adding 10,399 tokens in the past week alone.
This position gives Bitmine control over 4.8% of Ethereum's 120.7 million-token supply, with a value of approximately $10.9 billion. Concentrating that much ETH in a single corporate treasury is notable given Ethereum's lower market capitalization and thinner corporate demand relative to Bitcoin, where no single public company holds a comparable share of total supply. According to a company statement, Bitmine's total holdings amount to $11.3 billion, making it the largest corporate Ether holder and the second-largest corporate crypto treasury of any kind, trailing only Strategy.
Strategy Sells BTC for the Third Time in 2026
While other treasury firms bought, Strategy sold. The company disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission that it sold 1,638 BTC for approximately $104.7 million between July 27 and August 2 — the third time Strategy has sold Bitcoin in 2026.
The coins were sold at an average price of roughly $63,957 each, approximately $10,000 below Strategy's average acquisition cost of $75,419, meaning the company realized a loss on the specific coins sold even as it continues to hold the vast majority of its treasury. The company used the proceeds to cover preferred-stock dividends and repurchase a portion of its STRC shares. Strategy's dollar reserve now stands at $4 billion.
Strategy still holds 842,138 BTC. Executive Chairman Michael Saylor has pushed back against the notion that the company has shifted to a selling posture, stating that Strategy has "never had a 'never sell' policy" and reaffirming the firm's expectation to remain a net Bitcoin buyer over time.