BMNR is trading at $20.81 (-3.21%) as a broader crypto pullback weighs on the company's massive Ethereum treasury.
- Ethereum's 2.62% decline since yesterday's close is causing significant paper losses on Bitmine's holdings of over 4.3 million tokens.
- The stock's retreat follows a 10.6% surge yesterday driven by a $98M ETH acquisition and a temporary crypto rebound.
- Additional downward pressure stems from broader market weakness, with the NASDAQ falling 1.86%.