Bitmine Climbs 6% as Ethereum Extends Rally After SEC Tokenization Order; Sharplink Rises 5%, Coinbase Jumps 6%
- Strategy resumed Bitcoin purchases on Monday after a two-week pause, acquiring 950 BTC for $75.7 million while simultaneously deploying $174 million to repurchase STRC preferred stock.
- This dual-track deployment reflects Strategy's effort to balance Bitcoin accumulation against debt reduction, managing liquidity while navigating competing balance sheet priorities and preferred-stock obligations.
- The Securities and Exchange Commission issued a five-year exemption on Sept. 17 creating a regulated pathway for tokenized U.S. stocks, sparking immediate rallies in crypto-linked equities including Bitmine and Coinbase.
- As of Sept. 20, Bitmine Immersion Technologies held nearly 6 million Ethereum tokens with roughly 85% staked, projecting annual staking revenue of roughly $357 million at current yields.
- Bitmine Chairman Tom Lee expects institutions to substantially increase crypto exposure in late 2026, citing capital rotation from artificial intelligence stocks as a potential catalyst for further gains.
68 Articles
68 Articles
MicroStrategy Ends Two-Week Pause With 950 Bitcoin: Is the Buying Engine Stalling?
Strategy, formerly known as MicroStrategy, purchased 950 Bitcoin during the week ending September 20, marking the resumption of acquisitions following a two-week gap in buying activity. The company valued the purchase at approximately $77 million based on a bitcoin price of $81,200 used in its Monday filing. The acquisition also included $174 million in repurchases of Variable Rate Series A Perpetual Stretch Preferred Stock, a Nasdaq-listed shar…
Bitcoin Surges Above $85,000 as Strategy Stops BTC Purchases
Bitcoin climbed above $85,000 after Strategy purchased 950 BTC, bringing its holdings to approximately 846,000 coins. Ethereum also gained as Bitmine Immersion expanded its reserves to nearly six million ETH. Crypto sentiment strengthened, with PEPE and Dogecoin posting strong gains, while regulatory uncertainty in the U.S. and Europe continues shaping the industry.
Saylor’s Strategy Makes First Purchase of Bitcoin Since August
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