Strategy has gone 3 consecutive weeks without buying any additional BTC, only focusing on accumulating cash. Last night they just raised another $544.5M by selling MSTR shares, pushing their total USD reserve fund to $3.75B. This amount is more than enough to cover interest and dividends over the next 2.1 years. They have also just repurchased $25M STRC preferred shares.

Last week, Bitmine likewise only added another 9,946 ETH, about $20M, bringing its total holdings to 5.8 million ETH—around 4.8% of the total supply. The current average purchase price is $3,364 per ETH.
Tom Lee said recently the company has been prioritizing share buybacks because it sees the ETH/BTC ratio just hit a 3-month high, despite the odds of passing the Clarity Act in 2026 continuing to fade. Just last week they bought another 6.1 million shares worth about $98M, and since the start of the month they have accumulated a total of $186M shares.