Whale hunting: Strategy and BitMine buy Bitcoin and Ethereum during market downturn
While retail investors remain hesitant amid the correction, the largest corporate players in the cryptocurrency market are acting with Swiss-watch precision. Over the past week, we witnessed an impressive aggressive buying spree: Strategy increased its bitcoin reserves, while mining giant BitMine continues to methodically approach its "alchemical" goal for its Ethereum share.
Strategy: Another 1,587 BTC added to the stash
Between June 8 and June 14, Strategy acquired 1,587 bitcoins, spending approximately $100 million. The average purchase price was $63,024 per coin. This move appears particularly confident against the backdrop of the recent drop in the first cryptocurrency's price to a local low of $59,131 (June 5). By June 15, bitcoin had recovered more than 12% from that level, rising to $66,500, but it is still trading nearly 47% below its all-time high of $126,200, set in October 2025.
Strategy's total holdings now stand at a colossal 846,842 BTC. The total acquisition cost is $64.07 billion at an average price of $75,656 per coin. The purchases were financed through an ATM program (selling shares at market price). Notably, the company simultaneously increased its dollar reserve by $100 million to $1.1 billion. As of today, Strategy controls approximately 5.59% of all bitcoin in circulation.
BitMine: The path to 5% of Ethereum's supply
Equally active moves are being observed in the Ethereum market. The largest corporate holder of ETH, BitMine, added 76,881 coins to its portfolio over the past week. As a result, the company's total holdings reached 5.62 million ETH, representing approximately 4.66% of the total supply of the second cryptocurrency.
BitMine has already covered about 93% of the way to its ambitious goal of holding 5% of Ethereum's total circulating supply. The company expects to achieve this target during 2026. BitMine's strategy is also impressive in its efficiency: more than 83% of its holdings (about 4.72 million ETH) are already staked, generating approximately $226 million in annual income. The company's total cryptocurrency and cash assets reached $10.4 billion, including $285 million in cash.
Analyst's comment: The actions of Strategy and BitMine are a classic example of "smart money" using the correction to build positions. Strategy's purchase at $63,000 looks particularly confident, given that their average portfolio price is significantly higher. BitMine, meanwhile, demonstrates that mining companies are transitioning from simple accumulation to active capital management through staking, turning ETH into an income-generating asset. This is a strong bullish signal for the market that should not be ignored.