Strategy sells BTC as Bitmine keeps stacking ETH at $10.75B

Strategy has begun offloading Bitcoin holdings, while Tom Lee's Bitmine Immersion Technologies is moving in the opposite direction — aggressively accumulating Ethereum. Bitmine added 26,497 ETH worth approximately $52.6 million last week alone, bringing its total holdings to 5,416,901 ETH, valued at roughly $10.75 billion.

The scale of Bitmine's position is striking: the firm now controls approximately 4.49% of the total circulating ETH supply of 120.7 million tokens, putting it 90% of the way toward what the company calls the 'Alchemy of 5%' threshold — a milestone reached in just eleven months of accumulation.

The divergence between Strategy's BTC selling and Bitmine's ETH buying signals a notable institutional repositioning. Whether Strategy's move reflects profit-taking, balance-sheet management, or a broader shift in conviction remains to be seen, but the contrast with Bitmine's continued conviction buy is a meaningful data point for institutional sentiment watchers.

Source: [Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 5.42 Million Tokens, and Total Crypto and Total Cash Holdings of $11.6 Billion — Cision PR Newswire](https://www.prnewswire.com/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-5-42-million-tokens-and-total-crypto-and-total-cash-holdings-of-11-6-billion-302786720.html)