BitMine Immersion Technologies Inc. ( BMNR ) shares are trading lower on Wednesday afternoon, pressured by a broader downturn in the cryptocurrency sector as Bitcoin (CRYPTO: BTC) falls below the $90,000 level. Here’s what investors need to know.

BMNR stock is struggling to find support. See the full story here.

What To Know: The decline highlights the stock’s high correlation to digital asset prices, driven by its aggressive treasury strategy. BitMine recently disclosed that its crypto and cash holdings have grown to $11.8 billion, solidifying its position as the largest single Ethereum (CRYPTO: ETH) holder.

The company currently holds over 3.55 million Ethereum tokens, representing 2.9% of the total ETH supply, and is pursuing a long-term goal of acquiring 5% of the network.

Despite immediate market headwinds, the company remains focused on expansion. BitMine recently appointed Chi Tsang as CEO and added three independent directors to support its growth.

Furthermore, Chairman Tom Lee remains adamant that the “crypto cycle top is 12-36 months away,” comparing the current opportunity in blockchain to the early internet era.

Benzinga Edge Rankings: Benzinga Edge data further reflects this volatility, marking the stock’s short and medium-term price trends as bearish while identifying the long-term trend as bullish.

BMNR Price Action: BitMine Immersion ( BMNR ) shares were down 8.71% at $29.44 at the time of publication on Wednesday, according to Benzinga Pro data.

Read Also: Tech Edges Up Ahead Of Nvidia’s Earnings, Bitcoin Sinks Below $90,000: What’s Moving Markets Wednesday?

How To Buy BMNR Stock

By now, you're likely curious about how to participate in the market for BitMine Immersion ( BMNR ) — be it to purchase shares or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of BitMine Immersion ( BMNR ), which is traded at $28.93 at some point on Wednesday, $100 would buy you 3.46 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option or sell a call option at a strike price above where shares are currently trading — either way, it allows you to profit from the share price decline.

Image: Shutterstock