FameEX Hot Topics | BitMine, Strategy, and SharpLink Stocks Crush the Broader Crypto Market Recovery

Crypto-sector investors shifted their enthusiasm toward digital asset treasury (DAT) stocks on Monday, propelling companies that hold large Ethereum reserves far ahead of the broader cryptocurrency market’s modest recovery. While the total crypto market capitalization rose just 2.1% over the past 24 hours, treasury-focused stocks delivered outsized gains, signaling renewed confidence in firms that continued accumulating ETH through the recent correction.

Leading the surge was BitMine Immersion Technologies (BMNR), whose shares rocketed nearly 20% in regular trading. The stock jumped from under $27 to above $31 and held those gains into after-hours as Ethereum’s price climbed. Despite losing 50% since early October’s crypto peak, BitMine remains up an astonishing 630% since launching its aggressive Ethereum treasury strategy in late June. The company announced Monday that it now controls 3.63 million ETH—approximately 3% of total supply—valued at roughly $10.6 billion after adding another 69,822 ETH last week by buying the dip.

SharpLink Gaming (SBET), the second-largest corporate Ethereum holder, and Michael Saylor-led Strategy (MSTR) also posted strong gains. SharpLink rose almost 6% with shares breaking $10, while Strategy added 5% to close at $179. Macro investor Ted Pillows noted that Ethereum treasury stocks “are showing no signs of a bottom,” adding that a sustained reversal in these names could spark a major upside move in ETH itself.

Unlike panicked retail traders who sold during the downturn, corporate treasuries kept buying and holding. BitMine’s chairman Tom Lee described the company as “two-thirds of the way to the ‘Alchemy of 5%’” of total Ethereum supply. Institutional money has followed: Nasdaq data cited by analysts showed institutional ownership of BitMine leaping from 6% to 31.7% in just 13 days, underscoring growing Wall Street conviction in the treasury model.

Ethereum itself gained around 3% over the past day, briefly touching $2,980 before encountering resistance. The second-largest cryptocurrency remains 41% below its August all-time high of $4,946, battered by the November rout. Tom Lee attributed the recent weakness to impaired liquidity since mid-October and fragile technicals. Yet with treasury stocks now decisively outperforming, investors appear to be betting that corporate Ethereum hoarders will lead the next leg higher for both their shares and the underlying asset.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.