BitMine Immersion Technologies (BMNR) stock dropped 9.65% to $26.77, driven by significant weakness in the cryptocurrency market and a broader technology sector selloff.
- The stock's sensitivity is heightened as it holds over 4.24 million ETH in treasury reserves, coinciding with Ethereum's 6.72% decline.
- The selling pressure was compounded by a broader technology sector selloff, which was triggered by Microsoft's 12% plunge amid disappointing AI spending concerns.