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Crypto Daily｜BitMine Initiates Buyback a Month After Debut; Strategy Buys $2.46 Billion Bitcoin With STRC Proceeds

TigerJul 30, 2025 3:34 AM

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Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

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Tom Lee’s Crypto Treasury Initiates Buyback a Month After Debut

Less than a month ago, investors such as Cathie Wood’s Ark Investment Management were snapping up the shares of BitMine Immersion Technologies Inc. after Tom Lee of Fundstrat Global Advisors spearheaded the transformation of the Bitcoin miner into a crypto treasury company.

But as of Tuesday, following announcements that the company registered for the resale of stock and authorized the repurchase of $1 billion of common shares, investors appeared less enthused. The Las Vegas-based company’s shares - which soared almost 700% to $135 on June 30 - slumped as much as 13% to $30.60 on Tuesday.

Michael Saylor’s Strategy Buys $2.46 Billion Bitcoin With STRC Proceeds

In a press release, the company announced that it utilized net proceeds from its STRC IPO to acquire 21,021 BTC for $2.46 billion and at an average price of $117,256 per Bitcoin. This brings its total holdings to 628,791 BTC, which it acquired for $46.8 billion and at an average purchase price of $73,227 per Bitcoin.

Strategy has also achieved a BTC yield of 25.0% year-to-date (YTD). This development comes just a day after the company revealed that it didn’t buy any Bitcoin last week between July 21 and 27.

Hong Kong Implements New Stablecoin Regulations from August 2025

The Hong Kong Legislative Council passed the Stablecoins Ordinance to take effect on August 1, 2025, mandating licensing and compliance for fiat-referenced stablecoin issuers.

This ordinance positions Hong Kong as a regulatory leader in digital assets, impacting major stablecoins like USDT and USDC, and influencing market participation by banks and tech giants.

Bitcoin & Ethereum Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Tuesday was $77.57 million. The total net asset value of Bitcoin spot ETFs is $152.85 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.52%.

The Bitcoin spot ETF with the highest net inflow on July 29 was VanEck Bitcoin ETF, with a net inflow of $5.82 million.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

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