A wave of companies holding crypto on their balance sheet arrived in 2025. Driven by Trump’s pro-crypto policies, several traditional businesses bet big on crypto, whether through mergers or by going public in the US stock market. However, it appears that “DATs” or Digital Asset Treasuries are losing momentum, as many are seeing their stock values plummet. All About the Access Big-time DAT names like Bitcoin’s MicroStrategy, Ethereum’s Bitmine, and Solana’s Forward Industries are down big the past month
source: https://beincrypto.com/will-dats-like-microstrategy-bitmine-fade-soon/