BitMine Immersion Technologies · Nvidia · Microsoft · Cointelegraph
Bitmine’s Tom Lee hints at stock tailwinds after firm considered for Russell 3000
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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.
Key facts
- The company disclosed holdings of 163,142 Ether worth about $500 million on July 14 of the same year
- 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
- Shares in Bitmine Immersion Technologies (BMNR) are down over 30% year-to-date and closed trading on Friday at $18.88
- FTSE Russell will provide further list updates on, June 5, June 12 and June 18, and the newly reconstituted indexes take effect after the US market close on June 26
Summary
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.