---
symbol: "BMNR"
name: "Bitmine"
date: 2026-11-06
change_pct: -13.59607254875222
direction: "down"
event_type: "price_move_recap"
url: "https://perplo.app/why/BMNR/2026-11-06"
updated_at: 2026-11-06T02:07:26.062Z
---

# Why Bitmine (BMNR) fell 13.60% on November 6, 2026

Bitmine (BMNR) fell 13.60% on November 6, 2026 — Crypto liquidation wave hits Bitmine directly.

## What happened

Bitcoin broke below $76K, wiping out more than $1B in crypto bets, and crypto-linked stocks including MSTR, BMNR, CRCL, and COIN fell double digits. Bitmine dropped 13.6% in the same selloff.

## Why it moved

Bitmine's value is tied to the bitcoin it holds, so a break below $76K marks down its core asset and pressures the stock directly.

## Why it matters

This sits within the Crypto Stocks theme, where treasury and mining names trade as leveraged proxies for the coin price rather than as standalone businesses.

## What would break the thesis

A stabilization in bitcoin above $76K, with forced deleveraging easing, would stop the bleed. Bitmine would still trade with the coin, so a rebound depends on the underlying recovering.

## Sources

- [Bitcoin Breaks Below $76K, Wiping Out Over $1B Crypto Bets: MSTR, BMNR, CRCL, COIN Stocks Tumble Double Digits](https://finnhub.io/api/news?id=7eac4118868cfd71442178ce508d4e7ef4fa8b1f56b479a5d1c05121a80e9bfc) — Yahoo

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