BitMine and Strategy Stocks Plummet as Crypto Markets Sink
By John Nada·Jan 29, 2026·2 min read
BitMine and Strategy stocks fell nearly 10% as Bitcoin and Ethereum plunged amid government shutdown fears. This market instability raises concerns for investors.
BitMine and Strategy stocks both dropped nearly 10% on Thursday amid concerns over a potential government shutdown. BitMine holds $11.9 billion in Ethereum, while Strategy possesses about $60 billion in Bitcoin. Bitcoin hit a two-month low, and Ethereum experienced an even larger daily percentage dip.
After the markets closed on Thursday, BitMine, trading under the BMNR ticker, had fallen to $26.70, matching its November 2, 2025 close. Earlier in the week, BitMine made a significant purchase of $116 million worth of ETH, bringing its total Ethereum holdings to about $11.9 billion, or 3.5% of the total supply, according to a tracker maintained by price aggregator CoinGecko. Meanwhile, Strategy's shares also declined, reaching a low not seen in over a year. Its shares fell to $143.19, with Thursday's low of $139.36 marking the lowest price for MSTR since September 2024, as reported by Yahoo Finance.
Gold Surges 37% in 12 Months — ETFs Offer Varied Risk Exposure
Gold has surged 37% over the past year, driven by inflation and central bank buying.
The declines in both equities and crypto markets occurred amid signs of potential turmoil, with the U.S. Senate blocking a continuing resolution that could prevent a partial government shutdown. This situation adds to existing investor anxiety, especially following a plunge in Microsoft's stock, which has raised fears of an AI bubble.
Bitcoin dropped more than 5% during the day, trading at $84,416 after a brief recovery. Ethereum slid to $2,816, trading 6.6% lower than the previous day, according to CoinGecko. The fluctuating prices have led users on Myriad, a prediction market platform, to increase odds that Ethereum will hit $2,500 before recovering to $4,000.
The current market instability highlights the fragility of investor confidence amidst external pressures, making it a critical time for both crypto and equity markets.