NEW YORK, May 24, 2026, 18:04 EDT
- BitMine Immersion Technologies has landed on the preliminary list for additions to the Russell 3000 from FTSE Russell.
- BMNR finished Friday at $18.88, falling 3.7% during the session. The stock lost about 5% for the week.
- U.S. stock trading gets going again Tuesday following the Memorial Day market holiday.
BitMine Immersion Technologies is going into the shortened U.S. trading week with a new index event and volatile trading in the stock. FTSE Russell put BMNR on its preliminary list for Russell 3000 Index additions. The stock closed down 3.7% Friday at $18.88.
The Russell 3000 is in focus now because it’s a major U.S. equity benchmark tracked by index funds that buy shares to match the index. FTSE Russell puts the amount benchmarked or invested in Russell U.S. indexes at about $12.2 trillion. That makes rebalancing one of the bigger trading moments each year.
The cash market is closed for the weekend and stays shut Monday for Memorial Day. NYSE lists May 25 as a market holiday in 2026. Investors will have to wait until U.S. trading reopens Tuesday to react to the FTSE Russell news.
BMNR ended last week down about 5%, closing lower on Friday compared to the previous Friday’s $19.87. Shares slid hard on Monday, recovered midweek, but fell again to finish the week.
BitMine is getting some attention beyond its reputation as a small crypto-mining stock. The company reported May 18 that it owns 5.28 million ether, Ethereum’s token, plus 202 bitcoin and $685 million in cash and other holdings. That brings BitMine’s total in crypto, cash, and what it calls “moonshot” investments to $12.6 billion. Chairman Thomas “Tom” Lee said, “Over the past week, we acquired 71,672 ETH.” PR Newswire
BitMine has been active in staking, where tokens are locked up to support a blockchain and generate yield. The company said it had 4.71 million ETH staked as of May 17. Lee said, “Annualized staking revenues are now $289 million.” PR Newswire
BMNR’s equity story is still closely tied to ether. ETH was at about $2,079 on Sunday, under the $2,191 level BitMine reported in its May 17 holdings update. That gap can drag on how investors see the value of the company’s treasury before equity markets open again.
The crypto-linked tech peer set didn’t move together on Friday. SharpLink Inc., which is on FTSE Russell’s first Russell 3000 additions list, dropped around 4.0%. MARA Holdings gained 1.8%. IREN slipped 2.1%.
FTSE Russell said its preliminary lists are just the first public move in the June reconstitution. Updates are set for after the market shuts on May 29, June 5, June 12 and June 18. The new indexes go live after the U.S. market closes on June 26 and will start trading from the open on June 29.
FTSE Russell chief executive Fiona Bassett said moving to semi-annual reconstitution aims to let indexes “more responsively reflect changing market dynamics.” For BMNR, the focus next month shifts away from a single headline to whether preliminary inclusion will stick. LSEG
The trade isn’t set in one direction. If ether slumps, that can eat into any index-linked buying, and Russell’s lineup isn’t locked yet. The risk is simple: passive money doesn’t show up, crypto drops off, and last Friday’s selling becomes the start of a bigger shakeout.
BMNR faces a test this week as index inclusion could arrive Tuesday, but price may still track ether. Traders are eyeing the May 29 FTSE Russell update, since the stock’s next move depends on admin news, not marketing. That tends to make trading volatile.
