Strategy, BitMine Stock Prices Dive as Bitcoin and Ethereum Sink

In brief

• Bitmine and Strategy stocks both dropped nearly 10% on Thursday amid government shutdown concerns.
• Bitmine holds $11.9 billion in Ethereum, while Strategy holds $about 60 billion in Bitcoin.
• Bitcoin hit a two-month low on Thursday, while Ethereum put up an even larger daily percentage dip.

Ethereum giant BitMine Immersion Technologies and top Bitcoin treasury Strategy and have seen their stocks slide amid a fresh round of investor worry, with both of their respective assets of choice both falling hard Thursday. Upon the close of markets on Thursday, BitMine, which trades under the BMNR ticker on the Nasdaq, had shed nearly 10% and was changing hands for $26.70. BMNR dipped as low as $26.02 on the day, matching its $26.02 close on November 2, 2025. At the start of the week, Tom Lee’s BitMine made its biggest buy yet in 2026 by acquiring $116 million worth of ETH. Since the start of the year, the company has made three other purchases: $108 million, $76 million, and $100 million. The Ethereum treasury company now holds approximately $11.9 billion worth of ETH, or 3.5% of the total supply, according to a tracker maintained by price aggregator CoinGecko. 

Meanwhile, Strategy saw its shares take a similar slide, reaching a lot not seen in more than a year. As of the close of trading, MSTR had also fallen by nearly 10% and was changing hands for $143.19. Thursday’s low of $139.36 was the lowest price registered for MSTR since September 2024, according to Yahoo Finance data. The company, co-founded by chairman and outspoken Bitcoin bull Michael Saylor, added to its treasury on Monday, too. MSTR announced that it spent $267 million on Bitcoin last week. The 712,647 BTC in its treasury is now valued at approximately $60 billion at current prices. Thursday’s decline across both the equities and crypto markets came amid signs of potential turmoil. The U.S. Senate blocked a continuing resolution that would stave off a partial government shutdown on Thursday afternoon. Lawmakers have until Saturday to strike a deal. It also came as Microsoft’s stock plunge fueled lingering fears of an AI bubble. Bitcoin has fallen more than 5% on the day, recently trading for $84,416 after partially recovering from a daily low of $83,407. It’s still above the recent low it hit in late November, when it briefly dipped below $83,000 as a BTC billionaire dumped their entire $1.3 billion stash on the market. Ethereum, meanwhile, had slid to $2,816 and was trading 6.6% lower than it was yesterday, according to CoinGecko.

The rocky price action has spurred users on Myriad, a prediction market platform owned by Decrypt parent company Dastan, to up the odds that Ethereum will see $2,500 before it can climb back to $4,000. On Thursday, users predicting that the token will sink further increased their odds from 65% to more than 75%.