- Bitmine Immersion Technologies added 10,452 ETH last week, lifting its treasury to 6.05 million ETH.
- Strive purchased 6,182 Bitcoin, increasing its total holdings to about 43,000 BTC.
- Strategy did not buy Bitcoin last week but spent $204.9 million on its STRC preferred stock.
- Bitmine Chairman Tom Lee said the latest crypto pullback is comparatively shallow and evidence of a bull market.
During midday trading on Monday, Bitmine Immersion Technologies (BMNR) Chairman Tom Lee said cryptocurrencies are caught in the same risk-off move that is weighing on Artificial Intelligence stocks. He called the pullback “comparatively shallow” and said the recent action is “further evidence” of a crypto bull market in the making.
“Crypto got pulled down by the same ‘risk off’ forces behind the AI sell-off,” Lee said, adding that “In contrast to late-2025 and early 2026, crypto pullbacks have been comparatively shallow.” Lee pointed to Ethereum’s nearly 50% gain since July, while the iShares Semiconductor ETF (SOXX) fell 20% over the same period.
AI stocks have come under pressure this month as investors question the debt companies are taking on to build data centers, with Coreweave (CRWV), Nebius (NBIS), and Iren (IREN) among the hardest hit. On Monday, those stocks recovered in midday trade after Elon Musk said that more than 200 “neocloud” companies face failure or consolidation.
Lee’s comments came as Bitmine and Strive continued adding to their crypto treasuries. Bitmine added 10,452 Ethereum, bringing its treasury to 6.05 million ETH, and has now bought Ethereum every week since its treasury strategy began.
The company also bought back 2.04 million shares at an average price of $22.48, bringing its year-to-date repurchases to 22.9 million common shares for about $399.6 million. Strive expanded its digital-asset holdings by purchasing 6,182 Bitcoin, leaving it with roughly 43,000 BTC.
BMNR stock fell more than 4% in midday trade, with retail sentiment on Stocktwits in “bearish” territory. ASST stock dropped nearly 6%, though sentiment remained “bullish.”
Strategy reported no Bitcoin purchases over the last week despite buying $204.9 million worth of its STRC preferred stock. Bitcoin was struggling to hold $80,000, trading near $79,700, down 0.8% in the last 24 hours after a weekend rout and on track for its lowest level since mid-September.
MSTR stock fell about 2.8%, and retail sentiment around the name trended in “extremely bearish” territory.
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