Strategy and Bitmine ramp up buybacks instead of crypto purchases
- —Strategy retired 2.07M STRC shares for $204.9M; BTC holdings unchanged at 848,517
- —Strategy's average bitcoin cost is $75,446, with $64.02B spent in total
- —Bitmine now holds 6.05M ETH, or 4.95% of supply, with 5.23M staked
- —Bitmine has bought back 22.9M shares worth $399.6M year to date
Why it matters: Major crypto treasuries are shifting from accumulation to equity support, reducing corporate demand for BTC and ETH.
Source: BTC-ECHO