Bitmine adds $74M ether as Lee bets on Clarity Act
In brief
- Bitmine purchased 42,197 ether last week, raising total holdings to 5.74 million ETH worth $10 billion
- Staked ETH through MAVAN platform exceeds 4.8 million tokens, generating recurring staking income
- Thomas Lee attributed buying surge to rising Clarity Act passage odds, now at 50% in prediction markets
- Bitmine sold $216 million in bitcoin, marking rare reduction in largest corporate bitcoin holder's position
Ethereum Holdings Surge to $10 Billion
The latest purchase lifted Bitmine's ETH holdings to 5.74 million ether, worth approximately $10 billion and representing 4.8% of Ethereum's circulating supply. It's a commanding position for any single entity on the blockchain. Bitmine also holds stakes in other assets: 206 bitcoin, $527 million in cash and marketable securities, plus positions in Beast Industries and Eightco Holdings.
Beyond treasury holdings, Bitmine has staked more than 4.8 million ETH through its MAVAN staking platform. Those staked tokens generate recurring staking income and are worth roughly $8.5 billion at current prices. The dual strategy—buying, holding, and staking—compounds the firm's exposure to Ethereum's economic layer.
Lee Ties Buying to Clarity Act Optimism
Thomas Lee sees regulatory clarity as the catalyst. Ether outperformed bitcoin by 6% through last week, and Lee tied this relative strength to growing optimism about the proposed Clarity Act. Prediction markets now assign roughly a 50% probability to the legislation passing—the highest level in two weeks.
"Investors have become more optimistic about the passage of the Clarity Act. 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." — Thomas Lee, Chairman of Bitmine Immersion
Strategy Reduces Bitcoin, Rare Move
In contrast, Strategy sold about $216 million worth of bitcoin, the largest digital asset treasury and corporate bitcoin holder. The sale marked a rare reduction in Strategy's bitcoin holdings. While Bitmine accelerates its Ethereum bet, Strategy's move signals a tactical shift in how the two largest treasuries are positioning their portfolios in the current market environment.
