BitMine Immersion Surges 7.91% on $2.84 Billion Trading Volume, Ranks 29th in Market Activity

On October 2, 2025, BitMine Immersion (BMNR) surged 7.91% as trading volume reached $2.84 billion, marking a 30.89% increase from the prior day and ranking 29th in market activity. The stock's performance reflects heightened investor interest amid broader market volatility.

Recent developments highlight BitMine’s strategic focus on expanding its immersion cooling technology applications in data centers, positioning it to benefit from growing demand for energy-efficient infrastructure solutions. Analysts note that the company’s recent partnerships with regional cloud providers have bolstered its revenue pipeline, though execution risks remain tied to supply chain constraints.

Market participants are closely monitoring BitMine’s ability to scale production amid rising raw material costs. While short-term momentum appears strong, long-term sustainability will depend on its capacity to maintain margins as competition intensifies in the green tech sector.

To run this back-test rigorously I need to pin down a few implementation details that aren’t specified yet. Could you please confirm (or amend) the following? Universe: Do you want to use all U.S. listed common stocks (≈ 6,000 names), or a specific subset (e.g., S&P 500 constituents)? Should ADRs, ETFs, SPACs, etc. be excluded? Ranking method: Rank by the most recent day’s reported dollar volume, or share volume? If dollar volume, should I use Close×Volume or VWAP×Volume? Trade timing & price: Entry: buy at today’s market close or next-day open? Exit: sell at next-day close or next-day open? (Entry-at-close / exit-at-next-close is the most common “hold-for-1-day” convention, but let me know your preference.) Capital allocation: Equal-weighted across the 500 names each day, or value-weighted by volume? Any cash drag or borrowing constraints to model? Frictional costs: Commission per share or per trade? Slippage assumption (e.g., buy at close +1 bp, sell at close −1 bp)? Risk controls (if any): Daily position or portfolio limits, stop-loss, etc. Providing this information will let me configure the back-test engine properly and return a clean performance report.