Stocks for two major cryptocurrency treasury companies, BitMine Immersion Technologies and Strategy, each dropped nearly 10% on Thursday amid broader market concerns. This coincided with significant declines for their core holdings, as Bitcoin fell to a two-month low and Ethereum posted an even larger daily percentage loss. The sell-off occurred as investors reacted to a potential U.S. government shutdown and a sharp drop in Microsoft’s stock.
Publicly traded crypto treasury firms BitMine Immersion Technologies and Strategy saw their stocks slide significantly as the assets they hold plummeted in value. Both companies’ shares fell by nearly 10% upon the close of markets on Thursday.
BitMine, which trades under the BMNR ticker, hit a low matching its close from November 2, 2025. The company holds approximately $11.9 billion worth of Ethereum, representing 3.5% of the total supply according to a tracker maintained by price aggregator CoinGecko.
Strategy similarly reached its lowest share price in over a year, trading under the MSTR ticker. The company, co-founded by chairman Michael Saylor, recently added to its treasury and now holds approximately $60 billion worth of Bitcoin.
Thursday’s market decline came amid signs of potential political turmoil and tech sector fears. The U.S. Senate blocked a continuing resolution to stave off a partial government shutdown, with a deadline set for Saturday.
The underlying cryptocurrencies faced heavy selling pressure, with Bitcoin falling more than 5% to trade around $84,416. Ethereum put up an even larger daily percentage dip, sliding 6.6% to trade at $2,816.
