Cryptocurrency and Stock Market Indicators | Strategy's total BTC holdings reach 650,000; Bitmine increased its ETH holdings by 96,798 last week, bringing its total holdings to 3,726,499 (December 2nd).

Editor's Note: After a brief rebound, the cryptocurrency market has once again fallen below the key support levels of $90,000 and $85,000. Meanwhile, Strategy, contrary to its usual practice, announced it might sell BTC to repay convertible bond debt and pay dividends, casting a further shadow over the market decline. Despite this, many cryptocurrency mining companies' stock prices have rebounded significantly, with several stocks rising by over 20% in a single week, including Cleanspark and Cipher Mining, which we mentioned in last week's cryptocurrency stock market commentary. This suggests that the AI transformation of mining companies is beginning to show results. Furthermore, benefiting from the popularity of topics such as quantum algorithms and quantum attacks, some related stocks have also seen considerable gains. We recommend long-term monitoring of mining company stock performance and the latest developments in cryptocurrency quantum algorithms.

The following is a summary of last week's cryptocurrency and stock market information compiled by Odaily Planet Daily. All US stock data comes from msx.com .

Sharp Commentary on Crypto Concept Stocks

Mining company stock prices have rebounded and stabilized, with several companies seeing weekly gains exceeding 20%.

According to a report by TheMinerMag , the Bitcoin mining industry is experiencing its most severe profit contraction in 15 years, with hash rates falling to a structural low of around $35/PH/s. The payback period for next-generation mining rigs has been extended to over 1,000 days, while the next halving is only about 850 days away. In addition, MARA, CleanSpark, Riot, and HIVE have seen declines ranging from 32% to 54% since mid-October.

Despite this, mining companies' stock performance has recently been outstanding, as can be seen from the chart above. According to data from msx.com , among which:

• Applied Digital Corporation (APLD) shares have risen 33.48% in the past 7 days;
• Cipher Mining Inc. (CIFR) shares have risen 39.22% in the past 7 days;
• TeraWulf Inc. (WULF) shares have risen 36.05% in the past 7 days;
• Riot Platforms, Inc. (RIOT) shares have risen 22.27% in the past seven days;
• Hut 8 Corp. (HUT) shares have risen 27.69% in the past 7 days;
• Cleanspark, Inc. (CLSK) shares have risen 46.35% in the past seven days;
• BitDeer (BTDR) shares have risen 24.88% in the past 7 days;
• Bitfarms Ltd. (BITF) shares have risen 35.8% in the past 7 days.

Wall Street institutions are still increasing their bets on crypto stocks: "Wood Sister" and Benchmark have both issued statements.

Despite rising expectations of interest rate cuts, the crypto market still experienced a significant decline this month, but some Wall Street institutions remain optimistic.

Cathie Wood's Ark Invest continued to increase its holdings of crypto-related stocks last Wednesday (November 27), purchasing a total of 62,166 Coinbase shares worth approximately $16.47 million, distributed across three funds: ARKK, ARKW, and ARKF.

Benchmark analyst Mark Palmer also reiterated his "buy" rating and $705 price target for Strategy, noting that critics are confusing short-term movements with real solvency risks and ignoring the balance sheet designed to maximize Bitcoin's leverage.

New Trend: Nasdaq Accelerates Regulatory Approval of Tokenized Stocks

On November 30, Matt Savarese, head of digital asset strategy at Nasdaq, stated that the exchange considers SEC approval of its tokenized stock proposal a top priority and will "speed it up as quickly as possible." The proposal, submitted on September 8, aims to allow investors to trade tokenized assets based on shares of publicly traded companies on the Nasdaq platform.

Savarese emphasized that Nasdaq is not attempting to "disrupt the existing system," but rather hopes to promote tokenized assets into the mainstream in a "responsible and investor-oriented" manner within the SEC regulatory framework. He stated that the plan will be continuously improved based on public feedback and regulatory issues.

Weekly Updates on Cryptocurrency Stock Companies

Representative listed companies in the BTC Treasury

Last week, global listed companies were net buyers of BTC, totaling $21.86 million. Strategy spent $12 million to purchase 130 Bitcoins.

According to SoSoValue data, as of December 1, 2025 (Eastern Time), the total net purchase of Bitcoin by global listed companies (excluding mining companies) last week was $21.86 million.

On December 1, Strategy (formerly MicroStrategy) announced an investment of $12 million to acquire 130 Bitcoins at a price of $89,959, bringing its total holdings to 650,000 Bitcoins.

Metaplanet, a Japanese listed company, did not purchase any Bitcoin last week.

In addition, three other companies purchased Bitcoin last week. French Bitcoin company Capital B announced on November 25th that it invested $460,000 to acquire 5 more Bitcoins at a price of $92,188, bringing its total holdings to 2,823. Hong Kong-based genetic testing and health technology company Prenetics invested $630,000 to purchase 7 more Bitcoins last week, bringing its total holdings to 508,0341. Food content company DayDayCook announced on November 26th that it invested $8.77 million to acquire 100 more Bitcoins at a price of $87,739.58, bringing its total holdings to 1,183.

As of press time, the total number of Bitcoins held by listed companies worldwide (excluding mining companies) is 893,890, with a current market value of approximately US$76.91 billion, accounting for 4.48% of Bitcoin's circulating market capitalization.

Strategy establishes a $1.44 billion dividend reserve fund for distribution.

On December 1, Strategy announced the establishment of a $1.44 billion dividend reserve fund for dividend payments. The fund will be funded by proceeds from the sale of Class A common stock through a market offering program. Strategy aims to maintain sufficient dollar reserves to pay at least 12 months of dividends and plans to gradually increase the reserves, with the ultimate goal of covering dividend payments for 24 months or longer. Furthermore, the maintenance of the reserve fund, as well as the amount, terms, and conditions of the reserves, are at Strategy's sole discretion and may be adjusted from time to time based on market conditions, liquidity needs, and other factors.

Representative companies of the ETH Treasury listed companies

BitMine: Increased its holdings by 96,798 ETH last week, bringing its total holdings to 3,726,499 ETH.

On December 1, BitMine announced that it had increased its holdings by 96,798 ETH last week, bringing its total holdings to 3,726,499 ETH. In addition, the company also disclosed that it held 192 BTC, $36 million worth of Eightco Holdings shares, and $882 million in uncollateralized cash.

Representative companies of SOL Treasury listed companies

SOL Treasury company Upexi plans to raise $23 million to strengthen SOL Treasury strategy.

On November 26, Nasdaq-listed Upexi announced that it had entered into a securities purchase agreement with a single institutional investor to issue approximately 3.29 million ordinary shares and an equal number of warrants at a price of $3.04 per share, with an exercise price of $4.00 per warrant, raising a total of $23 million to support its core Solana treasury strategy.

Two executives of SOL Treasury Company DFDV purchased a total of 14,244 common shares on the open market.

On November 26, Nasdaq-listed Solana DeFi Development (DFDV) announced that two of its executives had purchased a total of 14,244 common shares on the open market. Chief Operating Officer and Chief Investment Officer Parker White purchased 10,044 common shares, and Chief Strategy Officer Daniel Kang purchased 4,200 common shares.

Representative companies of altcoin treasury listed companies

Independent investment firm Valereum secures $200 million in funding to launch digital asset treasury strategy.

On November 25, Valereum, an independent investment firm headquartered in the Cayman Islands, announced that it had secured $200 million in funding. The new funds will be used to support its establishment of a Digital Asset Treasury (DAT) and the strategic accumulation and management of digital assets, as well as the development of an AI-driven tokenization, royalty, and streaming platform.

YZiLabs criticizes BNC's board of directors, citing chaotic execution and poor communication, and demands the introduction of new directors to "save the company."

On November 28, investment firm YZiLabs announced that it had submitted a preliminary consent statement to the U.S. Securities and Exchange Commission (SEC) to expand the board of directors of Nasdaq-listed CEA Industries Inc. (BNC) and elect several new directors by soliciting written consent from shareholders. YZiLabs stated that its investment in BNC was based on its positive outlook on the company's fundamentals, its digital asset treasury (DAT) strategy centered on BNB, and its potential to become a "category-defining DAT company." However, since completing its $500 million PIPE financing this summer, BNC's stock performance has clearly deviated from this logic, even though the price of BNB has already seen a considerable increase during this period.

Ella Zhang, head of YZiLabs, stated that BNC's current poor performance is primarily due to "weak strategic execution, insufficient investor communication, and inadequate board oversight." Therefore, she hopes to strengthen corporate governance, improve information disclosure and market communication, and realign the stock price with the intrinsic value of net asset value and treasury strategy by expanding the board size and bringing in more experienced and competent new directors. YZiLabs also specifically named issues such as delayed filing of key SEC documents, failure to update digital asset treasury and NAV data in a timely manner, and confusion regarding external identity and strategic narrative, believing that shareholders can no longer wait.

The announcement indicates that the parties involved in this nomination process are expected to include YZiLabs Management, CZ, and several proposed board candidates. YZiLabs currently directly holds approximately 2.15 million BNC common shares and various warrants potentially convertible into common shares; however, these warrants will not be exercised in the short term due to the 4.99% shareholding cap. YZiLabs stated that it will soon announce the specific list of board candidates, aiming to unlock the company's potential value through stronger board governance without compromising BNC's digital asset treasury vision.

AlphaTON, a financial company specializing in TON (Treasury Network), deploys its first batch of NVIDIA B200 GPUs.

On December 1, coinciding with Telegram founder Pavel Durov's official launch of Cocoon (a secure open network for computing), Nasdaq-listed TON treasury company AlphaTON announced the deployment of its first batch of NVIDIA B200 GPUs to Telegram's Cocoon AI network.