New York, Jan 30, 2026, 05:37 EST — Premarket
- Shares of Bitmine Immersion Technologies slipped in premarket trading following a filing that announced the departure of its president.
- BMNR remains caught up in the wider selloff in bitcoin and ether, with traders pulling back into safer positions.
- Investors are focused on macro headlines and clues about who will assume daily leadership.
Bitmine Immersion Technologies disclosed in a filing that it has terminated President Erik Nelson’s employment “without cause” and reached a separation agreement featuring $605,000 in lump-sum payments. The NYSE American-listed company’s shares dropped 3.8% to $25.69 in premarket trading Friday, following a near 10% slide the day before. (SEC)
The timing is crucial since the company has adopted a crypto-treasury model, which can cause its stock to fluctuate more sharply than the underlying token. Bitmine’s annual report states the firm’s main focus is acquiring, holding, and actively managing ether (ETH) as its primary treasury reserve asset. This approach ties its results and investor sentiment directly to ETH’s price swings. (SEC)
That sensitivity is being tested once more. Bitcoin dropped to a two-month low on Friday, with ether hitting the same mark as markets mulled over who might take the helm at the Federal Reserve and the potential impact on liquidity. Damien Boey, portfolio strategist at Wilson Asset Management, described the chatter about tighter liquidity as “pulling the rug out.” Sean Dawson, head of research at Derive.xyz, pointed to “AI exuberance” as another “big contributor” to the recent risk-off trend. (Reuters)
BMNR holders now face a tricky mix of macro pressures and a management shake-up. Treasury-style crypto stocks often behave like high-beta plays: they surge with crypto rallies but can sharply drop when rates, liquidity, or sentiment shift.
Nelson’s departure leaves investors questioning the next steps for a company that has relied heavily on capital markets to grow its digital-asset holdings. The filing clarified the exit wasn’t due to any dispute over operations, policies, or practices.
The downside risk is clear. Premarket action tends to be thin and jumpy, and BMNR has proven it can swing double digits in one session. If crypto takes another hit, the stock could face more selling pressure when the market opens.
Sharp rebounds often happen in this part of the market, particularly if crypto stabilizes and the company acts fast to calm investors about leadership staying put.
According to Nasdaq data, Bitmine’s most recent quarterly results came out on Jan. 13. (Nasdaq)
BMNR and other crypto-related stocks face a key near-term test with December’s U.S. producer price index set for release at 8:30 a.m. ET. On top of that, markets are focused on President Donald Trump’s pick for the next Fed chair, which Reuters says could come as soon as Friday. (Bureau of Labor Statistics)
