Bitmine Immersion Technologies (BMNR) shares dropped significantly, closing down 5.99% amid broader selling pressure in the cryptocurrency sector driven by expectations of a more restrictive monetary policy.
- The stock closed at $25.10 on January 30, extending the steep selling pressure seen across the volatile crypto market.
- The decline followed the official nomination of Kevin Warsh to lead the Federal Reserve.
- The move tracked broader risk aversion in global markets, specifically impacting high-beta crypto stocks.