DAT stocks reel after October bitcoin drop; losses up to 65% and mNAV nears 1x

Digital asset treasury stocks slumped after bitcoin's October sell-off, with Strategy down about 40% since Oct. 10 and peers like ABTC and BRR off 60%–65%. Strategy's mNAV neared 1x in late November and it set aside a $1.44 billion cash reserve, while weaker firms sold a combined 1,883 BTC.