Corporate interest in digital assets continues to deepen. The latest filings from BitMine Immersion Technologies and Strategy Inc. in November 2025 highlight a significant increase in their cryptocurrency holdings. These disclosures offer a clear snapshot of institutional conviction in Bitcoin and Ethereum as long-term assets, even as market volatility persists.

Both companies have taken advantage of recent price softness to build on their existing positions. BitMine expanded its Ethereum portfolio to record levels, while Strategy added hundreds of Bitcoin to its already dominant treasury. Together, their activity underscores how digital assets are becoming core components of corporate balance sheets rather than speculative trades.

These announcements mark a broader continuation of what analysts describe as the institutionalization of crypto treasuries. The filings show that major public companies remain actively involved in building exposure to top-tier cryptocurrencies despite ongoing market fluctuations and evolving regulations.

BitMine’s $13.2 Billion Ethereum Portfolio

On November 10, BitMine Immersion Technologies (BMNR) revealed that it now holds 3.5 million Ethereum (ETH), valued at approximately $13.2 billion, along with 192 Bitcoin (BTC) and $398 million in unencumbered cash. The update confirmed that BitMine acquired 110,288 ETH in the past week alone, a 34% increase in its weekly purchase rate.

Chairman Tom Lee described the move as a response to a short-term dip in Ethereum prices. “We are now more than halfway towards our initial pursuit of the ‘alchemy of 5% of ETH'”, he said. BitMine’s total holdings now represent 2.9% of Ethereum’s circulating supply, cementing its position as the largest Ethereum treasury holder worldwide.

BitMine’s shareholder base includes well-known institutional investors such as ARK Invest, Founders Fund, Pantera Capital, and Galaxy Digital. Its growing prominence has also been reflected in trading activity, the company is currently the 48th most traded stock in the U.S., averaging $1.6 billion in daily volume, according to Fundstrat Research.

In addition to accumulation, BitMine has actively engaged traditional finance leaders. The firm recently co-hosted a summit with the Ethereum Foundation at the New York Stock Exchange, aimed at introducing Wall Street institutions to the mechanics of asset tokenization. Lee compared the current financial transformation to the U.S. leaving the gold standard in 1971, calling Ethereum’s growth part of a long-term “super cycle” for blockchain adoption.

With $398 million in cash reserves and sustained institutional backing, BitMine appears committed to expanding its position further, signaling ongoing confidence in Ethereum’s long-term fundamentals.

Related read: BitMine Expands Ethereum Holdings to $13 Billion

Strategy Adds 487 Bitcoin to Its Treasury

At nearly the same time, Strategy Inc., chaired by Michael Saylor, disclosed another addition to its already massive Bitcoin holdings. According to its SEC Form 8-K filing, the firm purchased 487 BTC between November 3 and 9 for $49.9 million, at an average cost of $102,557 per Bitcoin.

This latest acquisition brings Strategy’s total Bitcoin holdings to 641,692 BTC, bought for an aggregate $47.54 billion at an average purchase price of $74,079. At current market prices, that treasury is valued at around $67 billion, maintaining Strategy’s position as the world’s largest corporate Bitcoin holder.

The purchase was financed through proceeds from the company’s perpetual preferred stock offerings under its at-the-market program. Importantly, no new common stock was issued, signaling that Strategy continues to prioritize shareholder stability while scaling its Bitcoin exposure.

Saylor’s consistent accumulation strategy, focused on smaller, periodic tranches, reflects a methodical approach to building long-term value. The firm still has over $15.8 billion in authorized Class A stock available for future issuance, providing flexibility for further Bitcoin purchases.

Despite fluctuations in digital asset markets, Strategy’s filings suggest unwavering commitment to its Bitcoin-centric treasury model, one that has redefined how corporations manage and store capital in an inflationary environment.

According to Fundstrat data, Strategy and BitMine together now represent 88% of all global digital asset treasury trading volume, placing both firms at the center of institutional participation in crypto markets.

A Steady March Toward Institutional Maturity

The filings from BitMine and Strategy are more than just corporate updates, they represent the maturing phase of digital asset adoption among established institutions. The two companies, one focused on Ethereum and the other on Bitcoin, embody a growing belief that blockchain assets can serve as foundational components of modern corporate finance.

While short-term volatility continues to define crypto price action, the steady accumulation seen in BitMine and Strategy crypto holdings 2025 shows that some of the world’s most prominent corporate investors are focused on the long horizon. Their actions reinforce a clear message to markets: institutional demand for digital assets isn’t fading, it’s evolving into a long-term financial strategy that treats Bitcoin and Ethereum as enduring stores of value.