BMNR is trading at $23.92 (-4.7%) amid a sharp Ethereum selloff that has hammered its massive crypto holdings.
- The company holds over 4.2 million ETH, leading to more than $6 billion in unrealized losses after ETH dropped significantly over the weekend.
- Its $11.42 billion market cap is now almost entirely tied to ETH's price, turning the stock into a direct crypto volatility play.
- The stock is currently seeing bearish retail sentiment across social platforms.