**BitMine Immersion (BMNR) Stock Drops as Bitcoin Slips Below $90K**

Shares of BitMine Immersion Technologies Inc. (NYSE: BMNR) took a hit on Wednesday afternoon, falling over 8%, as the entire crypto market faced pressure. The drop comes after Bitcoin (BTC) fell below the key $90,000 level, sparking concerns across digital asset markets.

**Why BMNR Stock Is Falling**

BitMine’s stock is closely tied to the performance of major cryptocurrencies like Bitcoin and Ethereum. When digital asset prices fall, BMNR often drops too. This is largely because of the company’s aggressive investment strategy—it holds a massive amount of crypto in its treasury.

Recently, BitMine revealed that its combined cash and crypto holdings now total $11.8 billion. Most notably, the company owns over 3.55 million Ethereum (ETH) tokens, which is about 2.9% of all ETH in circulation. BitMine has stated that its long-term goal is to control 5% of the Ethereum network.

**Company Still Focused on Growth**

Despite the current dip in crypto prices, BitMine isn’t slowing down. The company recently brought in Chi Tsang as its new CEO and appointed three independent directors to its board—moves aimed at supporting future growth and expansion.

Chairman Tom Lee remains optimistic about the crypto market’s future. He believes we are still 1 to 3 years away from the peak of this crypto cycle, comparing today’s blockchain opportunity to what the internet looked like in its early days.

**Market Sentiment and BMNR Outlook**

According to Benzinga Edge data, BMNR’s short- and medium-term trends are currently bearish due to market volatility. However, analysts see a bullish trend over the long term, especially as the company continues to build its position in Ethereum and develop new strategies for growth.

**BMNR Stock Price Today**

As of Wednesday, BitMine shares were trading at $29.44—down 8.71% for the day. The sharp drop reflects growing uncertainty in crypto markets as Bitcoin slid below $90,000 and Ethereum dropped over 5% to around $2,941.

**How To Buy or Short BMNR Stock**

If you’re interested in investing in BitMine Immersion, you’ll need a brokerage account. Most platforms offer fractional shares, meaning you can invest with small amounts—like $100—to buy part of a share. At the current price, that would get you around 3.4 shares of BMNR.

Want to bet against BMNR? You can “short” the stock through a broker that offers margin trading. Another option is using an options trading platform to buy put options or sell call options, which can profit if the stock price drops.

**Key Takeaways:**

– BitMine stock fell over 8% as Bitcoin dropped below $90K
– The company holds 3.55 million ETH, aiming for 5% of total supply
– Leadership changes signal continued focus on long-term growth
– Despite short-term volatility, long-term outlook remains positive
– You can buy or short BMNR stock through most brokerage platforms

**Crypto Market Snapshot:**

– **Bitcoin (BTC):** $89,726 (-3.43%)
– **Ethereum (ETH):** $2,941 (-5.78%)
– **BMNR Stock:** $29.44 (-8.71%)

This market downturn may be temporary, but investors should stay informed and keep an eye on crypto price movements before making any investment decisions.