Crypto Sell-off Hits Corporate Treasuries as Strategy and BitMine Stocks Slide Nearly 10%
A crypto market downturn caused significant stock drops for corporate treasury holders Strategy and BitMine, both falling nearly 10%.Summary
The recent crypto market capitalization drop, which saw Bitcoin fall 6.7% and Ethereum 7.6%, has negatively impacted leading crypto-focused treasury firms. Strategy (formerly MicroStrategy) shares slid 9.63% to a nearly 16-month low, despite the company continuing to accumulate Bitcoin, now holding 712,647 BTC. Economist Peter Schiff criticized CEO Saylor's strategy, noting a low unrealized gain on their holdings. Similarly, BitMine's stock (BMNR) fell 9.89% to its lowest level since November 2025, even after the firm made its largest Ethereum purchase of 2026. BitMine holds approximately 4.24 million ETH, but on-chain data suggests an unrealized loss of about $3.8 billion, highlighting the strain on these crypto-heavy treasury strategies during the market downturn.
(Source：BeInCrypto)