Simply put
- Both Bitmine and Strategy saw their stock values drop nearly 10% on Thursday due to worries about a potential government shutdown.
- Bitmine reports holding $11.9 billion in Ethereum, whereas Strategy possesses about $60 billion in Bitcoin.
- Bitcoin recorded a two-month low, and Ethereum experienced a significantly larger single-day drop.
BitMine Immersion Technologies, known for its substantial holdings in Ethereum, along with Strategy, have faced a downturn in stock prices, largely driven by investor concerns that intensified on Thursday.
After the market closed on Thursday, BitMine’s stock, traded under BMNR on Nasdaq, fell nearly 10% to $26.70, matching its previous closing price in November 2025.
Earlier this week, under the leadership of Tom Lee, Bitmine made headlines by acquiring $116 million worth of ETH, marking it the largest transaction of 2026. The company has conducted three other notable acquisitions this year totaling amounts of $108 million, $76 million, and $100 million. Currently, their Ethereum treasury is valued at about $11.9 billion, constituting roughly 3.5% of the total supply according to a tracking source.
Meanwhile, Strategy’s stock also took a hit, dipping to levels not observed in over a year. By the end of the trading day, MSTR had recorded a nearly 10% decline, trading at $143.19. Thursday’s low of $139.36 represented the lowest price for MSTR since September 2024.
The company, co-founded by notable Bitcoin advocate Michael Saylor, added further funds to its treasury earlier this week, announcing a $267 million investment in Bitcoin. The 712,647 BTC it holds is estimated to be worth around $60 billion at current market values.
The declines observed in both the stock and cryptocurrency markets came amid signs of instability. The U.S. Senate blocked a continuing resolution on Thursday afternoon that could have prevented a partial government shutdown, with a looming deadline for lawmakers to strike a deal. This uncertainty was exacerbated by a notable drop in Microsoft’s stock, raising questions about an AI bubble.
Bitcoin’s price fell over 5% throughout the day, trading recently at $84,416 after a brief recovery from a low of $83,407. This price is still above recent lows from late November when BTC billionaires offloaded $1.3 billion worth of assets, pushing the price briefly below $83,000. At the same time, Ethereum traded at $2,816, reflecting a 6.6% decrease compared to Wednesday.
This recent volatility has frustrated users on Myriad, a prediction market platform, where discussions around future price movements continue. On Thursday, predictions suggesting Ethereum could drop further gained traction, increasing their probability estimates significantly.
