BitMine Immersion Technologies (BMNR) deployed $1.45 billion to acquire 736,319 ETH on February 28th, dominating the week's $1.81 billion total across all three assets. The ETH purchase alone accounts for 80 percent of weekly volume. Strategy (MSTR) added 3,015 BTC ($204M) on March 2nd via an 8-K filing, while Marathon Digital (MARA) acquired 860 BTC ($150M) the same day. Forum Markets (FRMM) trimmed 4,200 ETH ($8.1M) on March 3rd. Four distinct companies filed treasury activity; no new stackers entered the tracked cohort.
Strategy's 8-K (March 2nd) disclosed a 3,015 BTC purchase at an aggregate cost of $204 million, executed at an average of $67,654 per coin. Marathon Digital's year-end 10-K wrap recorded 860 BTC acquisition priced at $174,419 per unit. BitMine Immersion Technologies' ETH purchase arrived without an SEC filing link in the bundle, limiting public documentation review. Forum Markets' 8-K noted the ETH reduction, marking material activity in the typically quieter Ethereum cohort.
ETH-native volume this week ($1.46 billion) eclipsed BTC-native volume ($354M) by a factor of four — the first week in the tracked period where Ethereum purchases dominated by USD value. BMNR's single transaction accounts for 99.4 percent of weekly ETH additions. For the BTC cohort, the two corporate stackers (Strategy and Marathon) combined for $354M in acquisitions, keeping pace with spot-ETF inflows and maintaining corporate treasury as a measurable — if secondary — source of on-chain demand.
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Editorial is not investment advice. Data sourced from SEC EDGAR, CoinGecko, and primary corporate filings.