Crypto Sell-off Affects Corporate Treasuries as BitMine and MicroStrategy Stocks Decline Nearly 10%

Recent turmoil in the crypto market has led to a 6% drop in market capitalization over the last 24 hours, significantly impacting major assets and firms such as BitMine and MicroStrategy. Despite continued investments, these companies are feeling the pressure of the falling prices.

Key Takeaways

The overall crypto market capitalization has decreased by 6% recently, affecting major digital assets.
Major firms like MicroStrategy and BitMine have seen their stock prices decline nearly 10%.
Bitcoin and Ethereum prices fell to their lowest points in two months, with declines of 6.7% and 7.6% respectively.
MicroStrategy's stock has hit a 16-month low, while BitMine's shares are at their lowest since November 2025.
Both companies are continuing to accumulate assets despite the downturn, but market conditions are raising concerns over the sustainability of their strategies.

Impact on MicroStrategy Shares

According to BeInCrypto, macroeconomic factors have weighed heavily on the crypto markets recently. Bitcoin experienced a 6.7% drop, and Ethereum saw an even larger decrease of 7.6%. Both cryptocurrencies reached two-month lows during early trading hours in Asia. The downturn has affected major corporate holders, including BitMine and MicroStrategy, amidst a broader market decline across precious metals and equities.

As per Google Finance data, MicroStrategy's stock (MSTR) experienced a drop of 9.63%, closing at $143.19 on Thursday. This is the lowest price the stock has seen since September 2024, with an additional slip of 0.13% in after-hours trading.

Prominent economist and Bitcoin skeptic Peter Schiff commented on this decline, pointing out that MicroStrategy's stock is nearly 70% below its peak. He remarked, “Saylor spent $54 billion over the past five years buying over 712K bitcoin at an average price of just over $76K. His total unrealized gain is less than 11%. Too bad he didn’t buy gold!”

Despite the stock downturn, MicroStrategy remains focused on Bitcoin investments. On January 26, the company announced it purchased $264.1 million in Bitcoin at an average price of $90,061 per coin. This acquisition marked their fourth significant purchase in January, bringing their total Bitcoin holdings to 712,647 BTC, valued at approximately $59.1 billion. However, the company is facing mounting pressures, including a decrease in its market net asset value ratio below 1.0x, approaching zero Bitcoin-per-share accretion, and increased dependence on capital markets.

BitMine's Strategy Amid Stock Decline

In a similar trend, BitMine's stock (BMNR) also faced losses, closing at $26.70 on Thursday, which represents a decline of 9.89% and the lowest point since November 2025.

Earlier this week, BitMine announced its largest Ethereum purchase of 2026, acquiring 40,000 ETH, now bringing its total holdings to about 4,243,338 ETH, worth roughly $11.68 billion. This makes up 3.5% of the entire Ethereum supply, with over half of its holdings staked. However, on-chain data from CryptoQuant reveals that BitMine is sitting on an unrealized loss of about $3.8 billion, underscoring the pressure on firms heavily focused on crypto assets during this market downturn.

Despite the situation, industry advocates like Tom Lee are encouraging HODLing, even as BMNR continues to decline.

The sharp drops in stock prices for both BitMine and MicroStrategy reflect broader challenges faced by crypto-focused firms. Other companies in the sector, such as Metaplanet, Strive, and Sharplink, have also grappled with declines, albeit to a lesser extent than these two market leaders.