Woofun AI reports that Ether treasury company Bitmine Immersion Technologies added more than 27,000 Ether to its reserves last week as the firm officially joined the Russell index tracking the largest 1,000 US companies. Following this latest $43 million purchase, the firm now holds just over 5.7 million ETH bought at an average price of $1,569 per token, representing 4.7% of the total 120.7 million token supply. This accumulation moves the company closer to its strategic goal of owning 5% of the entire Ether supply.

Bitmine chairman Tom Lee noted that the past week "was a challenging one for crypto investors as ETH fell by 8%, even as Ethereum witnessed notable positive developments such as the creation of Ethlabs, and even the Bank of England softened its stance around stablecoins." The latest acquisition reinforces Bitmine's position as the largest public corporate holder of Ether, distinguishing it from peers in the sector.

Woofun AI data shows the company's aggressive buying strategy continues despite broader market volatility and the recent price slide below $1,600.

Inclusion in the Russell 1000 is expected to trigger significant capital inflows, as many mutual funds, ETFs and pension funds track the index and must buy the stock once it is added. Lee stated that being added to the Russell 1000 is expected to add hundreds and possibly thousands of additional institutional investors as equity owners of Bitmine. He previously highlighted in May that up to 25% of the market cap of a stock included in the index is held by passive index funds, suggesting a structural demand shift.

Shares in Bitmine (BMNR) gained 1.7% Monday to end trading at $13.80, though the company's stock has slid 9% over the past trading week alongside Ether. The broader market movement reflects Lee's observation that "it is not surprising to see 'window dressing' leading to investors reducing their holdings in assets that have fallen in the past three months." Meanwhile, rival crypto treasury firms Sharplink and Forward Industries, along with crypto exchange Gemini and crypto services firm Galaxy Digital, were also added to the Russell 3000 Index on Friday.

This wave of index inclusions signals a maturing landscape where traditional financial infrastructure increasingly overlaps with digital asset treasuries. The simultaneous addition of multiple crypto-native firms to major US indices marks a definitive shift in institutional asset allocation strategies.