BitMine Immersion (BMNR) stock tumbles 10% as president exit filing hits and crypto slides
BitMine Immersion Technologies (BMNR) fell 10% to $26.70 Thursday after an SEC filing showed President Erik Nelson was fired without cause and will receive $605,000 in severance. The drop followed sharp declines in ether and bitcoin prices. BMNR traded nearly 58 million shares, swinging between $29.15 and $26.03. Investors are watching dilution risk after shareholders approved raising authorized stock to 50 billion shares.