Bitmine's Tom Lee says the firm could be considered for the Russell 1000, and its stock may get a boost from active and passive fund managers.
Ether treasury company Bitmine Immersion Technologies has been included in a preliminary list for potential inclusion in the Russell 3000 index, a move that chairman Tom Lee hinted could provide tailwinds for the company’s stock.
FTSE Russell, a subsidiary of the London Stock Exchange Group, published a preliminary index inclusion list for the Russell 3000 on Friday, its index tracking the 3,000 largest companies in the US.
Lee said in an X post Saturday that Bitmine could be included in the Russell 1000, an index tracking the largest 1,000 US companies, due to the index’s minimum market capitalization threshold of $5.7 billion. Bitmine’s market cap was $10.15 billion as of market close on Friday.
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