Bitmine Immersion Technologies Inc. (NYSE:BMNR) shares moved lower in Thursday’s premarket trading, tracking a broader risk-off tone across markets. Nasdaq futures fell 1.89%, while S&P 500 futures declined 1.49%.
Geopolitical Strain Weights on Crypto
Leading cryptocurrencies fell Wednesday evening after President Donald Trump stated the U.S. military campaign against Iran will continue. Trump noted the campaign persists until objectives are “fully achieved.”
Following the address, Ethereum (CRYPTO: ETH) pulled back below the $2,100 level, according to data from CoinMarketCap.
Massive Treasury Exposure
The volatility directly impacts Bitmine’s significant balance sheet. As of March 29, Bitmine held 4,732,082 ETH tokens. …