Bitmine Immersion Technologies (BMNR) has landed on the preliminary additions list for the 2026 Russell 3000 Index, marking a milestone moment for a company that has aggressively repositioned itself as the world’s largest Ethereum treasury holder.
FTSE Russell published the preliminary list on May 22-23, with a final decision on inclusion expected by the end of June 2026. If confirmed, BMNR would join an index tracked by trillions in passive investment capital, effectively forcing index funds and ETFs to buy shares of a company whose core thesis is holding enormous amounts of ETH.
From mining rigs to Ethereum vaults
Bitmine’s trajectory reads like a crypto pivot playbook on fast-forward. Originally incorporated in 2019 as Sandy Springs Holdings, the Las Vegas-based company transformed into an Ethereum treasury management and blockchain ecosystem services firm. The company now claims to hold over 5 million ETH, roughly 4% of Ethereum’s total supply, while maintaining smaller Bitcoin positions on the side.
The stock’s 52-week range tells that story plainly. BMNR shares have traded between $3.92 and $161.00, with daily trading volumes that reportedly reach into the billions of dollars.
