Why did BMNR plummet?

The stock price of BMNR has experienced a significant decrease on June 30. The decline of BMNR can be attributed to the following factors:

1. **Regulatory Risks**: The company is undergoing a private placement and treasury strategy pivot, which could be perceived as risky by the market. The announcement of a $250 million private placement linked to Ethereum may introduce regulatory uncertainties, especially considering the volatile nature of the cryptocurrency market.
2. **Market Overreaction**: The market may have overreacted to the news of the private placement and treasury strategy pivot. Such a significant capital raise and shift in strategy can lead to a dilution of existing shares and may raise concerns about the company's financial health and long-term viability.

In conclusion, the decline of BMNR can be attributed to a combination of regulatory risks and market overreaction to the news of the private placement and treasury strategy pivot.

|code|Ticker|Name|Date|Percentage Change|market_code|
|---|---|---|---|---|---|
|BMNR|BMNR.A|BitMine Immersion|20250623|-4.5553|170|
|BMNR|BMNR.A|BitMine Immersion|20250624|0.4545|170|
|BMNR|BMNR.A|BitMine Immersion|20250625|-1.1312|170|
|BMNR|BMNR.A|BitMine Immersion|20250626|1.1442|170|
|BMNR|BMNR.A|BitMine Immersion|20250627|-3.5068|170|
|BMNR|BMNR.A|BitMine Immersion|20250630|694.8417|170|
|BMNR|BMNR.A|BitMine Immersion|20250701|35.69321533923305|170|