Bitmine Stock May Get Boost as Russell Index Inclusion Raises Investor Interest

Bitmine Immersion Technologies is drawing fresh attention after appearing on a preliminary list for possible inclusion in the Russell 3000 index, a benchmark that tracks the 3,000 largest publicly traded companies in the United States. The update has sparked expectations that the company’s stock could benefit from increased institutional interest in the coming months.

Chairman Tom Lee said Bitmine may also qualify for the Russell 1000, which tracks the largest 1,000 listed firms. According to Lee, the index requires a minimum market value of around $5.7 billion, while Bitmine’s market capitalization stood at nearly $10.15 billion at Friday’s market close.

Lee explained that many active fund managers focus only on Russell 1000 companies. He also noted that passive index funds and exchange-traded funds often automatically buy stocks added to the benchmark, with estimates suggesting as much as 25% of a company’s market value may eventually be held by passive investors.

Ether Treasury Strategy Remains Key to Bitmine’s Growth

Bitmine’s long-term strategy remains closely linked to Ethereum. The company currently holds around 5.28 million ETH, representing roughly 4.37% of Ethereum’s circulating supply. Its goal is to eventually control 5% of the supply, meaning it still needs around 756,538 ETH to reach that target.

The company started building its Ether treasury in July 2025, a move that initially boosted investor confidence. By early July that year, Bitmine shares surged above $135 after enthusiasm around its crypto reserves grew. On July 14, 2025, the company disclosed holdings of 163,142 ETH valued at nearly $500 million.

Bitmine Faces Stock Pressure Despite Staking Revenue

Despite its aggressive Ethereum strategy, Bitmine stock has struggled in 2026, falling more than 30% year-to-date and closing at $18.88 on Friday. Ether’s price decline has also added pressure, with the asset trading more than 57% below its all-time high of $4,946.

The company is estimated to be sitting on nearly $7.3 billion in unrealized losses linked to Ether’s price drop. Still, Lee recently argued that Ethereum’s weakness may offer a buying opportunity. He also said most of Bitmine’s ETH holdings are staked, generating estimated annualized staking revenue of around $289 million.