Bitmine Immersion Technologies (@BitMNR) has added another $74 million worth of Ether to its growing treasury, with chairman Tom Lee (@fundstrat) citing the improving legislative outlook for
Bitmine Immersion Technologies (@BitMNR) has added another $74 million worth of Ether to its growing treasury, with chairman Tom Lee (@fundstrat) citing the improving legislative outlook for the CLARITY Act as a key driver behind the firm's continued accumulation.
Bitmine bought 42,197 $ETH last week, worth about $74 million, continuing its buying spree.The latest purchase lifted the company's holdings to 5.74 million ETH, according to a Monday update. The firm now holds 5,742,237 ETH worth $10.3 billion, making it the largest public corporate Ethereum holder with 4.758% of the total supply. That puts Bitmine within striking distance of its self-described "Alchemy of 5%" target, a goal of controlling more than 5% of all Ether in existence.
The acquisition marks an increase from the prior week's purchase of 27,084 ETH, though it remains below the six-figure weekly buying pace Bitmine maintained earlier this year. Bitmine's continued buying contrasts with a shift at Strategy (MSTR), the largest digital asset treasury and corporate bitcoin holder, which sold about $216 million worth of BTC to raise cash.
Chairman Thomas Lee attributed ETH's recent outperformance of bitcoin and Bitmine's continued accumulation to rising investor optimism that the proposed CLARITY Act will pass and bring greater regulatory certainty to crypto, especially Ethereum."We believe regulatory clarity is an important milestone, enabling crypto, particularly smart contract platforms like Ethereum, to benefit as crypto becomes part of our everyday life," Lee said.He pointed to Ethereum layer-2 networks processing USDC transactions for companies including Shopify and Visa as examples of blockchain technology moving into mainstream payments.
The CLARITY Act has made notable progress in Washington in recent months. The cryptocurrency industry notched a key win after a Senate panel approved the bill, the first wide-ranging piece of legislation pertaining to the industry. On June 1, 2026, a new version of the Senate Banking bill was published, and the CLARITY Act was placed on the Senate Legislative Calendar under General Orders, making it formally eligible for full Senate floor consideration. However, to become law, the bill must still be reconciled with the Senate Agriculture Committee's version, pass a 60-vote Senate floor vote, be reconciled with the House-passed version, and be signed by the President.
Beyond the treasury build, the company has staked more than 4.8 million ETH through its MAVAN staking platform and related infrastructure, generating recurring staking income alongside its treasury strategy.According to the company, annualized staking rewards at current rates could reach approximately $277 million when its Ether treasury becomes fully deployed through MAVAN and affiliated validators.
Sources:CoinDesk: Bitmine buys 42k ETH while Tom Lee bets on Clarity Act boostCoinGecko: BitMine Immersion Crypto Treasury HoldingsCNBC: Clarity Act clears Senate Banking Committee
