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BitMine Immersion Technologies added about $74 million in Ether last week, extending its Ethereum treasury strategy as Chair Tom Lee linked ETH’s recent strength to rising expectations for U.S. crypto market structure legislation.
The company said its ETH holdings reached 5.74 million tokens, putting it close to its goal of holding 5% of Ethereum’s total supply.
BitMine Bought 42,197 ETH Last Week
BitMine added 42,197 ETH during the week, lifting its total holdings to 5,742,237 ETH. The company said that represents about 4.8% of Ethereum’s 120.7 million token supply. It described the position as 95% of the way toward its “Alchemy of 5%” target.
BitMine also reported 206 Bitcoin, $527 million in cash and marketable securities and equity stakes in Beast Industries and Eightco Holdings. Together, the company put its crypto, cash, marketable securities and other holdings at $11.1 billion.
Lee Links ETH Strength to CLARITY Odds
Lee said investors have become more optimistic about the CLARITY Act, with prediction markets putting the chance of passage at about 50%. He said regulatory clarity would be an important step for crypto, with smart contract platforms such as Ethereum likely to benefit as blockchain use moves into everyday financial activity.
Lee also pointed to Ethereum layer 2 networks processing USDC transactions for companies including Shopify and Visa. His view is that Ethereum’s role in payments and tokenized finance gives ETH a stronger policy-sensitive market narrative than Bitcoin alone.
ETH/BTC Ratio Remains BitMine Signal
BitMine is also tracking the ETH/BTC ratio as part of its market view. A rising ratio means ETH is outperforming Bitcoin.
Lee said that fits his view that legislation could support real-world crypto use cases, including stablecoins, tokenized assets and smart contract-based financial activity. That makes the ratio a useful signal for BitMine’s Ethereum-focused treasury strategy.
Staked ETH Tops 4.8M Tokens
BitMine said it had more than 4.8 million ETH staked as of July 5 through MAVAN and related infrastructure. At an ETH price of $1,800, the company valued those staked holdings at about $8.8 billion.
Staking gives BitMine a yield stream on part of its treasury, unlike a passive hold-only strategy. The company was also added to the Russell 1000 Large-cap Index on June 26, a move Lee said could widen institutional ownership of BitMine shares.
Staked ETH Tops 4.8M Tokens
BitMine’s ETH purchase came as Strategy reported selling about $216 million worth of Bitcoin to fund dividend payments. That contrast puts two large crypto treasury models side by side.
Strategy remains built around Bitcoin accumulation, while BitMine is trying to build an Ethereum reserve tied to staking, stablecoins and smart contract activity.
For BitMine, the next milestone is whether it reaches the 5% ETH supply target before year-end. Investor reaction will depend on whether ETH keeps outperforming Bitcoin and whether CLARITY Act momentum continues.
