Tom Lee: BitMine is included in the preliminary list of the Russell 1000 and may see a $2.15 billion buy order

BitMine Chairman Tom Lee tweeted that FTSE Russell has released the preliminary inclusion and exclusion list, with BitMine (BMNR) listed on the preliminary inclusion list for large-cap Russell 1000, having a market capitalization above the $5.7 billion minimum threshold required for large-cap inclusion.

Tom Lee stated that many actively managed funds only buy Russell 1000 constituents, and typically 20% to 25% of a single stock's market capitalization is held by passive index funds or ETFs. Based on BitMine's current market capitalization of $10.75 billion, if successfully included, BitMine will see at least $2.15 billion in buying funds.