Crypto Treasury Activity Still Tepid but Capital Flows Rebound: B. Riley
Corporate digital asset activity remained muted week over week amid the fallout from recent crypto deleveraging, with Wall Street broker B. Riley noting capital flows began to normalize as U.S.-China trade talks made progress.
Earlier this month, the broker initiated coverage of digital asset treasury companies (DATCOs) BitMine Immersion Technologies (BMNR), SharpLink Gaming (SBET), FG Nexus (FGNX), Kindly MD (NAKA) and Sequans Communications (SQNS), assigning each a buy rating.
“Despite market weakness, DATCOs continued accumulating crypto,” analysts Fedor Shabalin and Nick Giles wrote in the Wednesday report.
BitMine Immersion led peers, adding roughly $300 million in ether and lifting its concentration ratio to 10.6 ETH per…
