BitMine nears 5% ETH cap, Strive passes 43K BTC on buyback spree

• BitMine amasses 6.06M ETH, approaching its self-imposed 5% supply ceiling and leading corporates in Ethereum holdings
• Strive, Inc. accelerates Bitcoin accumulation to 43,124 BTC, leveraging stock buybacks and preferred share proceeds

BitMine Immersion Technologies
On November 2, 2026 (UTC), Cryptopolitan reported that BitMine Immersion Technologies reached 6.06 million ETH holdings, placing it just under its self-imposed limit of 5% of total Ethereum circulating supply and cementing its status as the largest corporate holder globally. The company’s accumulation policy emphasized weekly purchases and maximizing staking rewards, now projected at $363 million in annualized revenue. BitMine has staked approximately 5,067,309 ETH via its MAVAN network, maintaining most of its treasury in staking protocols. As the 5% cap approaches, BitMine is expected to adjust its strategy—potentially selling staking rewards rather than further accumulation—to stay within its own threshold. Funding for treasury growth was sourced from a $300 million perpetual preferred share issuance and a multibillion-dollar common share buyback. Despite significant unrealized losses from earlier, higher-priced purchases, the company prioritized long-term staking yield and balance sheet strength.

Strive, Inc.
Also on November 2, 2026, SEC filings detailed that Strive, Inc. had increased its corporate Bitcoin treasury to 43,124 BTC, following the purchase of 6,182 BTC during the week prior and an additional 124 BTC between October 24 and October 30, 2026. Strive funded this rapid accumulation with equity raises and a $630 million IPO for its 15% Series A Perpetual SATS Preferred Stock, allocating proceeds to further Bitcoin acquisitions and stock buybacks. CEO Matt Cole outlined a target of becoming the world’s second-largest corporate holder by surpassing Metaplanet and Twenty One Capital by year-end, trailing only market leader Strategy.

Buybacks and Corporate Treasury Trends
Both BitMine and Strive are channeling substantial cash toward stock buybacks as they pursue crypto asset accumulation. This approach mirrors a broader trend in corporate treasury management, with sector leader Strategy pausing additional Bitcoin purchases to prioritize a $204.9 million share repurchase. According to coverage from Yahoo Finance and TradingView News, BitMine’s increasing focus on buybacks closely aligns with these industry moves, marking a shift where major firms diversify balance sheets while maintaining aggressive digital asset allocations.

[Market Snapshot — as of November 2, 2026, 21:09 UTC]
Ethereum (ETH): $2,248.89 (-0.62%, 24hr)
Bitcoin (BTC): $76,741.56 (-1.42%, 24hr)
Data: Provided survey