BMNR Stock Price Prediction as Tom Lee Says Bitmine Could Join Russell 1000
Highlights
- BMNR stock price could make an explosive move if it is listed on the Russell 1000 index in June.
- Bitmine chairman Tom Lee says BMNR is listed among the potential inclusions to this index.
- BMNR has been stuck in a consolidation channel for four months and a breakout could spark a rally to $30.
Bitmine Immersion Technologies (NYSE: BMNR) dropped by 3.72% on Friday, May 22, to $18. But the BMNR price might be on the verge of a 28% rally after Bitmine chairman, Tom Lee, said that the stock might be added to the Russell 1000 index and give more institutions access to it.
Tom Lee Says Bitmine Could Join Russell 1000 Index
FTSE Russell has released the list of stocks that it will add or remove in June, and Tom Lee says Bitmine might be among those that will join the index.
Lee said BMNR stock has a market cap of $10.15 billion, well above the minimum $5.7 billion market cap. He also said that a lot of active managers only buy equities on the Russell 1000, and they will have an incentive to buy this stock after it gets into this index. They will likely buy to get exposure to ETH because of Bitmine’s aggressive Ethereum purchases.
He also said passive index funds and exchange-traded funds (ETFs) might dip their toes in BMNR if it goes to the Russell 1000. BMNR has a market cap of $10.15 billion, and these funds buy at least 20% of the market cap of a stock, which means they might buy $2 billion in shares.
The Russell 1000 index will likely complete the list of stocks that are going to be added or removed from the index on June 26.
BMNR will be joining Coinbase (COIN), Strategy (MSTR), and other crypto stocks on the index. MSTR joined the index on June 30, 2024, at $136, and by July 30, it had already risen to $160. Bitmine could see the same rise, and the consolidation channel shows it could rise 30%.
BMNR Stock Price Eyes 30% Rally
BMNR stock price has been moving between $18.29 and $23.45 from February 2 to May 22. It needs a good catalyst for it to escape this range and move past $23.45, and the inclusion on the Russell 1000 could support this.
The stock faces resistance at $23.45, and this is the upper boundary of the consolidation range. The depth from the lower boundary to this resistance at $23.45 is 28.2%.
MSTR could go to $23.45 if the recent drop to test support at $18.29 brings some buyers, and if it remains above $23.45 for three consecutive candles, it will gain by 28.2% and reach $30. The last time BMNR stocks traded at $30 was in January 2026.
A previous BMNR stock price analysis by CoinGape said the support is at $18. The stock will crash by the same depth of 28.2% and reach $12.92 if it goes below $18.
The AO bars are red, in the negative zone, and growing in size, which warns that this drop to $12.95 might happen if bulls do not defend the support at $18.
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Frequently Asked Questions (FAQs)
1. Will BMNR stock be listed on Russell 1000?
2. How high can BMNR stock price rally if it is listed on Russell 1000?
3. Which crypto stocks are listed on the Russell 1000 index?
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