Bitmine nears 5% of ETH, Bitget exits Japan, Strive buys more BTC

Bitmine: even closer to 5% of Ethereum's supply

Treasury company Bitmine bought another 10,399 ETH last week, pushing its total holdings to 5,797,813 ETH — 4.8% of Ethereum's entire supply. The company has been methodically working toward that 5% mark for months, buying ether every single week without pause, and is now just a step away from the target.

Bitget is winding down in Japan

Exchange Bitget announced a full exit from the Japanese market: starting November 1, resident accounts will be switched to "close-only" mode — no new positions allowed — with all remaining positions forcibly closed by December 31. The move follows warnings from Japan's FSA in 2023 and 2024 over operating without proper registration. The Japan exit stands out given that just a week earlier Bitget registered as a financial services provider in New Zealand instead — the company is retreating from some markets while expanding into others at the same time.

Strive keeps buying bitcoin

Public company Strive bought another 20 BTC for roughly $1.3 million, bringing its holdings to 20,020 BTC — now worth more than $1.3 billion at current prices. The purchase continues a string of weekly buys through which the company recently crossed the symbolic 20,000-coin mark.

Three different stories, but the same underlying pattern: while one class of players (treasury companies) keeps accumulating positions week after week, another (exchanges) has to keep maneuvering between jurisdictions, where regulators either open the door or shut it for good.

None of this should be read as personalized investment advice.