The company, chaired by Tom Lee, faces continued market pressures as its share price plummets 80% from this year’s peak amid waning demand for digital asset treasury firms.
BitMine Immersion’s stock dropped to $31.70 on Monday, reflecting an 80% decline from its highest point this year. Led by chairman Tom Lee, the company has been impacted by reduced demand for digital asset treasury services, bringing its valuation down to $13 billion. This marks its lowest share price since December 2.