Bitmine Adds $74M in Ether as Tom Lee Points to Clarity Act Optimism

Bitmine Immersion increased its ether treasury last week, buying 42,197 ETH worth roughly $74 million, according to a Monday update cited by CoinDesk. The purchase brought the company’s holdings to 5.74 million ETH, valued at about $10 billion, making Bitmine the largest Ethereum treasury company.

The move matters because Bitmine is continuing to build one of the most concentrated corporate positions in ether at a time when digital asset treasury strategies are under closer market scrutiny. Its holdings now represent 4.8% of Ethereum’s circulating supply, putting the firm closer to its stated goal of reaching 5%.

Chairman Thomas Lee said investor sentiment toward ETH has been helped by growing expectations that the proposed Clarity Act could pass in the U.S. He argued that regulatory clarity would be an important milestone for crypto, particularly for smart contract platforms such as Ethereum.

Bitmine’s latest purchase was larger than the prior week’s 27,084 ETH acquisition, though still below the six-figure weekly buying pace it had maintained earlier in the year. CoinDesk also noted the contrast with Strategy, the largest corporate bitcoin holder, which recently sold about $216 million worth of BTC to raise cash.

Beyond ether, Bitmine reported holding 206 bitcoin, $527 million in cash and marketable securities, and stakes in Beast Industries and Eightco Holdings. The company has also staked more than 4.8 million ETH through its MAVAN staking platform and related infrastructure, generating recurring staking income alongside its treasury strategy.