Digital Asset Treasury Selling Near Exhaustion as BitMine Deepens Ether Bet

B. Riley has indicated signs of stabilization in digital asset treasury companies after a period of decline. While losses continued in the past week, attributed to macroeconomic risks and ongoing deleveraging, BitMine (BMNR) has notably increased its ether holdings to 11.2 ether per 1,000 shares, well above the average of its peers. The bank views the current valuations as attractive, given the steep discounts to crypto holdings. Despite the underperformance of digital asset treasuries against underlying cryptocurrencies such as bitcoin and ether, the easing selling pressure might signal an imminent recovery. Analysts have noted that short sellers are beginning to cover their positions, raising expectations for a rebound, potentially bolstered by improving macro conditions, including a possible end to the U.S. government shutdown and greater stablecoin adoption.

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