BitMine Shares Plummet 11.22% as $3.38B Volume Surge Propels It to 30th in Market Activity

On October 10, 2025, BitMine (BMNR) closed with a 11.22% decline, while trading volume surged to $3.38 billion—a 45.41% increase from the prior day—ranking 30th in market activity. The sharp drop in price contrasted with elevated liquidity, signaling heightened investor activity amid mixed sentiment.

Recent developments highlight strategic shifts within the company’s operational framework. BitMine announced a revised capital allocation plan prioritizing long-term infrastructure upgrades over short-term profit maximization. The move follows internal restructuring aimed at streamlining operations in response to evolving market demands. Analysts note the decision could stabilize long-term growth trajectories but may temporarily pressure near-term earnings visibility.

Regulatory scrutiny remains a focal point, with ongoing investigations into compliance practices across key markets. While no formal charges have been filed, the company confirmed voluntary pauses on certain expansion initiatives pending review. Market participants are monitoring the timeline for resolution, as prolonged uncertainty could deter institutional investment inflows.

To make sure the test matches exactly what you have in mind I need to clear up a few practical details: 1. Universe. Which market(s) should the stock set come from – e.g. all U.S.-listed common shares (NYSE + NASDAQ + AMEX) or something else? 2. Ranking metric. Do we rank on share volume or on dollar volume (price × shares traded)? 3. Execution convention. A standard, bias-free way is: • rank on each day’s close; • buy the selected names at the next day’s open; • close them out at the next day’s close (one-day holding period). Is that acceptable, or would you prefer a different rule? 4. Position sizing. Equal-weight each name (so 1/500 of portfolio in each), or a different weighting? Once I have those details I can build the daily selection list and run the portfolio back-test from 2022-01-03 (first trading day of 2022) through the latest available date.