Digital asset treasuries (DATs) are at the forefront of a crypto stock resurgence as markets recover from a significant leverage flush that marked the beginning of the month. Notably, Ether DATs experienced a robust recovery on Tuesday, with EthZilla (ETHZ), listed on Nasdaq, climbing 12.35% to reach $10.80 in after-hours trading, as per Google Finance. BitMine, which holds the largest Ether (ETH) treasury globally and has reportedly been purchasing during the dip this week, witnessed a substantial 10.26% increase in stock value on Tuesday. BitMine's shares soared to $32.40 in after-hours trading, marking an impressive rise of over 650% since the company announced its Ether strategy in late June. The standout performer in the crypto stock arena was Thumzup Media Corp (TZUP), a mining and crypto investment firm, which saw a 13.25% rise on the Nasdaq.
On Tuesday, Crypto DAT stocks showed strong performance. In contrast, Bitcoin (BTC) DAT stocks were slower to recover, with several listed altcoin treasury companies outperforming them as the crypto markets rebounded. GD Culture Group (GDC), a virtual content production company and TRUMP memecoin treasury, experienced an 11.4% increase in its stock. Meanwhile, Solana (SOL) treasury (HSDT) recorded a 9.36% gain, and Sui Group Holdings (SUIG) rose by 7.7%. The largest crypto treasury globally, managed by Michael Saylor’s Strategy (MSTR), saw a moderate 5.78% gain, with share prices peaking at $188 during Tuesday's trading. Strategy stock has declined by 37.4% since the start of the year, largely due to losses incurred following the crypto market reversal in mid-October.
BitMine has reportedly continued to buy Ether during the dip this week, acquiring an additional 7,080 ETH valued at $19.8 million on Monday and 18,345 ETH worth approximately $55 million on Tuesday, according to Lookonchain and Arkham Intelligence. However, these transactions have not been officially verified by the company. On Wednesday morning, Ether prices rebounded, reaching a five-day peak of $3,060 in early trading.