Emre Yumlu 
Shares of companies that hold troves of digital assets, such as BitMine, Strategy, and SharpLink, have seen a much stronger recovery. While major cryptocurrencies posted moderate gains on Monday, stocks tied to firms holding large digital asset reserves delivered significantly stronger momentum.
DAT Stocks Lead Market Rebound
One of the standout performers was BitMine Immersion Technologies, which posted nearly a 20% jump during Monday’s trading session. According to Google Finance, BitMine’s share price climbed from just under $27 to above $31 and managed to retain these gains in after-hours trading as Ether prices strengthened.
Despite the latest rally, BitMine shares remain 50% below their early-October peak. However, the company’s long-term Ether accumulation strategy—launched in late June—has propelled its stock to a remarkable 630% increase since that point.
SharpLink Gaming (SBET), recognized as the second-largest Ether digital asset treasury, also joined the Monday rally, closing the day with an almost 6% gain as it crossed the $10 level. Meanwhile, Michael Saylor’s Strategy (MSTR) advanced by 5% to finish the session at $179.
Commenting on the broader trend, macro investor Ted Pillows noted that Ether-focused treasury stocks have not yet signaled a clear bottom. He suggested that a decisive turnaround in these equities could foreshadow a major reversal in ETH itself.
BitMine Now Controls 3% of the Ether Supply
Institutions holding digital asset treasuries continued accumulating throughout the market correction, whereas many retail investors exited in panic. This approach has allowed BitMine to surpass a significant milestone: holding over 3% of the total Ether supply.
Chairman Tom Lee highlighted this achievement, stating that the company is “two-thirds of the way toward the ‘Alchemy of 5%’ target.”
Data from StrategicEthReserve shows that BitMine currently holds 3.63 million ETH valued at roughly $10.6 billion. The company enhanced its position further last week by acquiring an additional 69,822 ETH. Institutional interest in BitMine has also surged, with Nasdaq figures showing that institutional ownership jumped from 6% to 31.7% in just 13 days.
Ether Recovers Slowly Amid Broader Market Weakness
ETH has gained around 3% over the past 24 hours, reaching an intraday high of $2,980 on Monday before encountering resistance and retracing slightly. Despite this rebound, Ethereum remains 41% below its all-time high of $4,946 set in August, following heavy losses during November’s market downturn.
Tom Lee noted that last week’s persistent price declines reflect deteriorating market liquidity since October 10, coupled with weak technical indicators that continue to weigh on sentiment.
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