BitMine's $246M Volume Ranks 33rd as Shares Slide 4.53% on Unconfirmed Operational Concerns

On September 25, 2025, BitMine recorded a trading volume of $246 million, ranking it 33rd in the day’s market activity. The company’s stock closed down 4.53%, reflecting a significant decline in investor confidence.

The downward trend coincided with unconfirmed reports of operational challenges in its immersion cooling technology division. Analysts noted mixed sentiment, with some attributing the drop to sector-wide volatility rather than company-specific developments. Market participants emphasized the absence of material news releases or earnings updates during the trading period.

Strategic considerations for investors included the stock’s liquidity profile and sector positioning. BitMine’s market cap remains below $5 billion, amplifying sensitivity to macroeconomic shifts and speculative trading patterns. Short-term technical indicators showed bearish momentum, though long-term fundamentals remain underpinned by its renewable energy infrastructure projects.

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1. Universe

• Should I look at all common stocks listed on the NYSE and NASDAQ (typical “US-listed equities” universe), or do you have a different market / exchange set in mind?

• Any filters such as minimum share price or liquidity you’d like me to apply before ranking by volume?

2. Portfolio construction

• Equal-weight each of the 500 selected stocks every day, or weight them by something else (e.g., volume-weight or market-cap-weight)?

• Rebalance at today’s close, liquidate at tomorrow’s close (i.e., 1-day holding period) – is that the trade timing you want?

3. Trading frictions

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4. Output

• Primary metric is total return, but would you also like the usual risk stats (volatility, max drawdown, Sharpe, etc.)?

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