BitMine enters the Russell 1000 preliminary list, with passive buy-side expectations of $215 million; Tom Lee's move is steady.

BitMine (BMNR) has been preliminarily added to the Russell 1000 inclusion list, with a market capitalization of $10.75 billion, which is $570 million above the qualifying threshold. BitMine Chairman Tom Lee noted that many actively managed funds only buy Russell 1000 constituent stocks, and 20%-25% of a single stock’s market value is often held by passive funds or ETFs. If it is ultimately included, based on its current price, BitMine could receive at least $215 million in buying demand.