NEW YORK, May 31, 2026, 18:01 (EDT)
Bitmine Immersion Technologies shares started the week roughly flat, still drawing attention as the crypto-treasury firm showed up on FTSE Russell’s latest preliminary additions for the Russell 3000 Index.
U.S. markets didn’t open Sunday. Bitmine (BMNR) finished at $19.27 on Friday, notching a 0.1% gain for the day and trading in a $18.44 to $19.86 range during the last session of a week shortened by the holiday. Shares climbed roughly 2.1% since the May 22 close. Normal U.S. equity market hours are 9:30 a.m. to 4:00 p.m. ET, Monday through Friday.
Timing is key since index changes force some to buy or sell. FTSE Russell’s yearly reconstitution resets the companies in big Russell U.S. indexes. The 2026 reshuffle takes effect after the U.S. market closes on June 26, with more preliminary updates set for June 5, June 12 and June 18.
Bitmine landed on the Russell 3000 preliminary additions list for May 29. Galaxy Digital and SharpLink also appeared. Crypto names have a larger profile in this review, but index membership only locks in after the full review process.
FTSE Russell says about $12.2 trillion in assets track its Russell U.S. indexes or are in related products. Fiona Bassett, FTSE Russell CEO, said the shift to semi-annual index reconstitution is intended to “more responsively reflect changing market dynamics.” Catherine Yoshimoto, director of product management, mentioned “improving breadth beyond mega caps.” LSEG
Bitmine’s equity ride is still about Ether. On Sunday, Ether was near $2,010, down from the $2,134 level that Bitmine used for its May 25 disclosure. That update put the company’s total crypto, cash and investments at $12.3 billion—made up of 5,390,404 Ether tokens, 203 Bitcoin, and $444 million in cash.
Bitmine chairman Thomas “Tom” Lee said the company saw Ether’s “recent pullback” as an “attractive opportunity.” Bitmine bought 111,942 Ether last week. The company reported 4,712,917 Ether staked, with those tokens locked to support blockchain validation in exchange for rewards. It estimated $276 million in yearly staking revenue at a 2.75% seven-day annualized yield.
Bitmine, known mostly as a Bitcoin miner, is moving extra cash into an Ethereum treasury plan. The company said it moved up to the New York Stock Exchange from NYSE American on April 9 and kept its BMNR ticker.
But the trade isn’t always one-sided. Bitmine posted a net loss of $3.82 billion for the quarter ended Feb. 28. That included $3.78 billion in unrealized losses on digital assets. In its annual filing, the company flagged Ether price swings, staking risks, regulation, losing capital-market access and potential dilution as factors that could hurt the business or weigh on the share price.
The week is shaping up to be a two-part test. Traders are watching if Ether sticks near $2,000, and if Bitmine’s early Russell status makes it through the coming June 5 update. Monday’s open could end up telling less than what volume does.
