On June 8, BitMine Immersion Technologies rose 5.19% in regular trading, trading at $16.82/share, with trading volume of $166 million. The rebound was driven by expectations of Russell Index inclusion after the stock had been under sustained selling pressure.

On the news front, the company had previously entered the FTSE Russell 3000 Index potential member list and is expected to be further included in the Russell 1000 Index. Chairman Tom Lee stated that the company's $10.15 billion market cap far exceeds the $5.7 billion entry threshold. Final results will be announced progressively on June 5, 12, and 18, with index adjustments taking effect after the close of US trading on June 26.

The stock had declined in prior sessions following the pricing of an upsized A Series perpetual preferred stock offering — 3.5 million shares at $80 each with a 9.50% coupon, generating estimated net proceeds of approximately $273.8 million. The expanded issuance and fixed dividend obligations had weighed on market sentiment, but index inclusion expectations now appear to be providing a technical catalyst for recovery.

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