BitMine’s $3.62 Billion Volume Ranks 20th as Shares Plunge 10% on Operational Concerns

On September 22, 2025, , ranking 20th in daily market activity. , reflecting heightened volatility amid mixed market sentiment.

The decline followed unconfirmed reports of operational challenges at BitMine’s immersion cooling facilities, though no official statements were released. Analysts noted that the sharp drop diverged from broader tech sector trends, which showed relative stability. , indicating increased short-term speculative activity but no clear directional consensus among investors.

To run this back-test precisely I need to pin down a few details and be sure we’re using the right data universe. Stock universe: Do you want all U.S. listed common stocks (current and delisted), only current listings, or a specific index-based universe (e.g., Russell 3000)? ADRs / ETFs excluded, correct? Re-balancing rule: “Top 500 by daily trading volume” – should the ranking be done each day on that day’s dollar volume (shares × close price) or share volume? Equal-weight the 500 names for the 1-day hold? Execution & pricing: Buy at today’s close and sell at tomorrow’s close (close-to-close return), or open-to-open? Slippage / transaction costs – assume zero unless you’d like specific assumptions. Once these points are confirmed I can generate the daily trade list, aggregate the portfolio return series, .