Bitmine Immersion Technologies and Strategy saw their shares plunge nearly 10% on Thursday amid renewed investor anxiety linked to potential government shutdowns. This decline translates into significant losses for both companies, which are heavily invested in cryptocurrencies—Bitmine in Ethereum and Strategy in Bitcoin.
Bitmine, which trades on the Nasdaq under the ticker BMNR, experienced a drop that brought its share price down to $26.70, with intraday lows reaching $26.02. This price is identical to its close from November 2, 2025. Earlier this week, Bitmine made headlines by acquiring $116 million worth of Ethereum, adding to its substantial holdings. The company’s current Ethereum assets amount to approximately $11.9 billion, or around 3.5% of the total Ethereum supply, as detailed by CoinGecko.
In parallel, Strategy also faced a sharp decline, with shares, trading as MSTR, dropping to $143.19—a level not seen in over a year. The day saw its stock hit a low of $139.36, marking the lowest point since September 2024. Co-founded by the well-known Bitcoin advocate Michael Saylor, Strategy recently expanded its treasury, announcing a $267 million Bitcoin purchase. The firm now holds a staggering 712,647 BTC, valued at roughly $60 billion at current rates.
The day’s stock declines come at a time of rising political uncertainty in the U.S., as the Senate blocked a measure aimed at preventing a partial government shutdown. Lawmakers are under pressure to reach an agreement before the deadline on Saturday. This external factor compounded an already tumultuous environment, which included worries surrounding a potential bubble in AI, following a significant drop in Microsoft stock.
Bitcoin struggled on Thursday, dropping over 5% to trade at around $84,416 after a slight recovery from a low of $83,407. Despite the decline, the cryptocurrency remains above a previous slump experienced in late November, when a significant sell-off saw Bitcoin dip below the $83,000 mark. Meanwhile, Ethereum’s valuation saw a sharper decline, falling to $2,816—down 6.6% from the previous day.
Amid this volatile market scenario, users on Myriad, a prediction market platform operated by Dastan, have altered their forecasts for Ethereum’s future. Predictions that the cryptocurrency could fall to $2,500 before regaining strength have surged, with odds increasing from 65% to over 75% by Thursday.
Investors in both the equities and cryptocurrency markets will be closely watching developments in the coming days, as additional news regarding the government shutdown and cryptocurrency valuations could impact market conditions further.
