Publicly traded Ethereum treasury firm BitMine Immersion Technologies added around $73 million in ETH last week while Strategy, its leading Bitcoin counterpart, dumped $216 million in BTC to pay dividend obligations.
BitMine now maintains a treasury of 5,742,237 ETH—more than 4.7% of the Ethereum circulating supply—valued at nearly $10 billion, as ETH changes hands at $1,752.
The latest acquisition represents a step up from last week’s $43 million acquisition as BitMine Chairman Tom Lee—an investor in Dastan, the parent company of Decrypt—maintains the view that a period of crypto prosperity is just beginning, pointing to increased odds of the passage of the Clarity Act as another piece of evidence.
“Over the past few days, investors have become more optimistic about the passage of the Clarity Act with prediction markets now seeing approximately 50% probability, the highest odds in two weeks,” said Lee in a statement.
“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,” he added.
Odds of the bill’s passage this year sit around 48% on Polymarket as of Monday morning, up 4% in the last week, but down 34% from a February high of around 82% in support of passage before the end of 2026.
Shares in BitMine reflect some additional investor optimism on Monday, jumping more than 5% shortly after market open to trade around $15.14 per share. The stock’s recently addition to the Russell 1000 index is expected to significantly impact the institutional ownership of the firm’s shares, according to Lee.
"Being added to the Russell 1000 is expected to add hundreds and possibly thousands of additional institutional investors as equity owners of BitMine," he said.
In addition to its ETH purchase, the firm has increased its staked ETH to 4,879,157 or nearly 85% of its entire stack, bringing its projected annualized staking revenue to $235 million.
ETH has gained more than 10% in the last week to change hands around $1,752, but remains 65% off its all-time high of $4,946.
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