Three Treasury Firms Buy Bitcoin, Ethereum, Solana in September

Last week, despite a lackluster September for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), three publicly traded crypto treasury firms increased their holdings.

The purchases came as digital assets encountered new uncertainty before a Federal Reserve rate decision. Strategy (previously MicroStrategy) was the outlier: it repurchased its own preferred shares and did not add to its Bitcoin holdings.

BitMine and DFDV Grow Crypto Treasuries

BitMine Immersion Technologies added 27,180 ETH last week, bringing its total to 5.956 million tokens. That represents 4.9% of circulating supply, just shy of the 5% supply target that chairman Tom Lee has aimed for.

Approximately 5.07 million of those tokens are staked. BitMine's combined crypto and cash holdings are valued at $15.8 billion.

“In August, ETH moved sideways without a downside break, and the 12-day metric expired, which implies a renewal of the upside move. We believe this further supports the continuation of the prior uptrend. We expect late August’s sharp one-day rally was a likely preview of the pending advance,” Tom DeMark, founder of DeMark Analytics and a capital markets advisor to the firm, said.

DeFi Development Corp, a Nasdaq-listed Solana treasury firm, grew its holdings by 2% to 2.39 million SOL from August 27. It also opened a $300 million at-the-market program for CHAD, its Solana-backed preferred stock.

Strive Purchases Bitcoin While Strategy Refrains

Strive, which is the fifth-largest publicly traded Bitcoin treasury company, acquired 469 BTC from September 8 to 11 at an average price of $77,954. Its holdings now stand at 25,000 coins.

Strategy, the largest public Bitcoin holder, made no purchases. It bought back $139 million of its STRC shares. Its holdings remain at 845,050 BTC, with an average cost of $75,412.

Strategy has repurchased $139M of $STRC. As of 9/13/26, we hold 845,050 $BTC and $6.4B of USD Assets. $MSTR https://t.co/NDYaVxz2sm

— Michael Saylor (@saylor) September 14, 2026

These acquisitions come before a critical week for cryptocurrencies. The Federal Open Market Committee will announce its interest rate decision on September 16.

Market expectations have shifted toward a rate hike. On September 11, CME FedWatch estimated an 85.6% probability of a quarter-point increase, compared to 48.4% a month prior.

Higher interest rates increase the expense of holding non-yielding assets. Consequently, a rate hike could weigh on crypto prices in subsequent sessions, similar to past tightening cycles.

This creates a real test for the treasury firms. They have kept buying during a weak period for prices, and the coming weeks will reveal if that continues through a possible deeper decline.