Key Highlights

● BitMine slid on Friday, October 30, 2026, to $20.60 at 11:25 a.m. Eastern.

● Ether fell to a two-month low.

● No company-specific news was found.

● BitMine holds ether in its corporate treasury.

BitMine Immersion Technologies (NYSE American:BMNR) slid on Friday, October 30, 2026, as ether, the second-largest cryptocurrency, fell to a two-month low. The shares traded at $20.60 at 11:25 a.m. Eastern, according to market data. No company-specific news was found; the stock moved with ether and the broader crypto selloff.

BitMine has built its strategy around holding ether in its corporate treasury, alongside a smaller Bitcoin Mining and hosting business. That makes its share price closely tied to the value of ether, which sets it apart from bitcoin miners whose fortunes depend mainly on the price of bitcoin.

A shock from Binance

The selloff followed news from Binance, the world's largest crypto exchange. It disclosed a breach on Thursday evening and confirmed on Friday that about $6.3 billion had been stolen, which would be the largest crypto theft on record. TRM Labs and Elliptic tied the attack to North Korea, and market reports said that Binance blamed a compromised DevOps engineer's laptop.

"We are committed to covering all hacked losses through our company funds," Binance co-CEO Richard Teng said. About $3 billion was reportedly frozen, and withdrawals were expected to resume by Sunday, according to market data.

Ether and bitcoin slide

Ether traded around $2,237, a two-month low. Bitcoin fell to a six-week low, around $76,700 to $77,600, down from about $86,000 earlier in October. A digital-assets research head said, "I suspect the negative price action still has some way to go,"

The decline swept across crypto-linked shares. Coinbase (NASDAQ:COIN) fell sharply after quarterly Revenue missed estimates, while Strategy, the largest corporate holder of bitcoin, also dropped. Robinhood (NASDAQ:HOOD), Circle, Galaxy Digital and Figure Technology Solutions fell, as did miners Riot Platforms (NASDAQ:RIOT), Hut 8 (NASDAQ:HUT), MARA Holdings, CleanSpark and Cipher.

The wider market

The crypto slide came on the market's worst day since June. The S&P 500 fell 140.32 points to 7,580.07, the Dow Jones Industrial Average lost 572.25 points to 51,770.31 and the Nasdaq Composite dropped 747.73 points to 25,437.00, its worst day since June 5. The Russell 2000 declined 47.37 points to 2,811.84. Closing levels for the FT Wilshire 5000 were not available.

Technology stocks led the losses after Intel (NASDAQ:INTC)'s weak outlook and cash-burn warning, and Amazon (NASDAQ:AMZN)'s negative trailing free Cash Flow intensified worries about spending on AI. Oil rose above $100 a barrel amid tensions involving Iran, and investors moved into energy, consumer staples, utilities and health care.

The Federal Reserve added to the caution. The Central Bank held rates this week, but two officials dissented in favor of a hike, and on Friday Richmond Fed President Tom Barkin said, "I think the question though is pace." Expectations for tighter policy tend to weigh on speculative Assets such as cryptocurrencies.

What to watch

For BitMine, ether's price is the central factor. Investors will be watching whether Binance resumes withdrawals by Sunday as planned and whether any more stolen funds are frozen, steps that could help steady crypto markets.

Macro events could also matter. The midterm elections take place on Tuesday, November 3, and the October jobs report is due Friday, November 6, ahead of the Fed's December meeting. With no company-specific news behind Friday's decline, BitMine's shares are likely to continue moving with ether.