BitMine Joins Russell 1000 Index on June 26 With $10.7B Market Cap

According to Tom Lee on X, BitMine Immersion Technologies will join the Russell 1000 Index on June 26, exceeding the $5.7 billion large-cap threshold with a market capitalization of $10.7 billion. The inclusion, part of FTSE Russell's semi-annual reconstitution, is expected to trigger multi-billion-dollar inflows from passively managed index funds and ETFs that typically hold 20–25% of a member company's market cap.

BitMine currently controls 4.6 million Ethereum, representing 3.8% of Ethereum's total supply and valued at approximately $10 billion, according to Strategic Ethereum Reserve. The firm aims to secure 5% of Ethereum's total supply, worth roughly $12.8 billion. Other crypto firms are also affected: Galaxy Digital is joining the large-cap Russell 1000, while SharpLink and Gemini are set to join the Russell 2000 small-cap index.