Stock of MSTR Decreases Following Purchase of Bitcoin, BMNR Slows Down Ethereum Acquisition Speed
May 11, 2026
Shares of the company took a hit after revealing a recent purchase of 535 Bitcoin, valued at $43 million, causing a small decline in stock price. This move by the company occurred as Michael Saylor hinted at a potential decrease in accumulating Ethereum for the time being to focus on other aspects within the cryptocurrency sphere.
Bitmine Immersion Technologies, which has been actively accumulating Ethereum in recent weeks, reported a decrease in purchases from over 100,000 ETH to just 26,659 ETH in their most recent acquisition. Despite this slowdown, the company maintains a significant stake in Ethereum, totaling around 5.2 million ETH.
Strategy (MSTR) saw its share price decline by 1.5% following the announcement of the new Bitcoin purchase. Conversely, Bitmine’s stock saw a slight increase, with retail sentiment shifting from neutral to bearish, although the overall chatter around the stock remained low.
The price of Bitcoin was struggling to stay above $81,000, while Ethereum managed to hold above the $2,300 mark during early trading hours. Strategy’s recent investment in BTC reflects its ongoing commitment to expanding its Bitcoin treasury, now holding 818,869 BTC acquired at an average price of $75,540 per Bitcoin.
In their Q1 earnings call, Michael Saylor mentioned the possibility of selling some of Strategy’s Bitcoin holdings to enhance shareholder value, resulting in a positive response from Wall Street analysts, including BTIG, who raised the company’s price target to $350.
On the other hand, Bitmine’s Chairman Tom Lee indicated a potential slowdown in Ethereum accumulation during an appearance at Consensus Miami 2026, stating that the company may delay reaching its ownership target of 5% to focus on other crypto opportunities. As of now, Bitmine controls around 4.31% of Ethereum’s circulating supply, aligning with their objective to achieve a 5% ownership stake gradually.
Strategy continues to hold the title of the largest corporate Bitcoin holder, while Bitmine maintains its position as the leading institutional Ethereum holder. Despite a challenging year for the stock market and crypto prices, both companies have demonstrated resilience, with Strategy’s stock increasing by over 20% in 2026, while Bitmine’s stock has performed less favorably alongside Ethereum’s price which has declined by over 20%.
Overall, the decision to slow down Ethereum accumulation and potentially explore new opportunities within the cryptocurrency industry showcases a strategic approach by both Strategy and Bitmine to navigate the evolving market landscape. As the industry continues to evolve, these companies remain poised to adapt and capitalize on emerging trends.
