00:00Bitmine Immersion Technologies plunged 6.47% today, despite a confirmed holdings update.
00:08Bitmine is a crypto treasury company that buys and holds Ether, and puts some of it to work through blockchain
00:14staking.
00:16In its SEC filing, Bitmine reported $15 billion in crypto, cash, and marketable securities holdings, including 6.05 million ETH
00:27tokens.
00:27The filing also said the company repurchased 2.04 million shares during the past week.
00:35Why it matters. The stock declined even as the company documented expanding holdings and continued share repurchases.
00:44Financials rose 0.25% today, so this move ran against its own sector.
00:51More on BMNR, full recap linked.
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