Bitmine Immersion Technologies has purchased 27,180 Ethereum over the past week, lifting its holdings to 5.96 million ETH as chairman Tom Lee points to U.S. legislation and institutional demand as possible drivers of a year-end crypto rally.
Summary
- Bitmine acquired 27,180 ETH, bringing its treasury to 5,956,378 ETH.
- The company now holds about 4.9% of Ethereum’s 122 million-token supply.
- Bitmine has staked 5.07 million ETH, equal to roughly 85% of its holdings.
- Tom Lee named the coming CLARITY Act vote and returning Korean demand as possible market catalysts.
- Bitmine adviser Tom DeMark expects ETH to make a sharp upward move in the coming weeks.
Bitmine’s ETH holdings have reached 5.96 million tokens
According to a company press release, Bitmine held 5,956,378 Ethereum (ETH) as of Sept. 13 after adding 27,180 tokens during the preceding week.
Using Coinbase’s price of $2,513 per ETH, Bitmine valued the position at nearly $15 billion. Its treasury represented 4.9% of Ethereum’s stated 122 million-token supply, putting the firm 98% of the way toward its plan to own 5% of all ETH.
“Bitmine’s track record of consistent buying of crypto is unmatched by any public company in the world,” Lee said.
The latest purchase followed an acquisition of 28,086 ETH one week earlier. At the end of August, Bitmine reported holding 5,901,112 ETH, meaning its treasury has continued to expand even as Ether recovered from its June lows.
In July, crypto.news reported Bitmine held 5.74 million ETH, or 4.8% of the network’s supply at the time. The company has since added more than 214,000 ETH while remaining just below its ownership target.
Bitmine’s total portfolio, which includes crypto assets, cash, marketable securities and private investments, reached $15.8 billion. Besides Ethereum, the company reported owning 212 Bitcoin, $549 million in cash and marketable securities, a $180 million interest in Beast Industries and a $98 million stake in Eightco Holdings.
The ETH position accounts for most of the reported portfolio value, making the company’s balance sheet sensitive to changes in Ethereum’s market price. Bitmine used a price of $2,513 to calculate the value of its holdings as of the reporting cutoff.
Staked ETH has reached more than 5 million tokens
Of Bitmine’s total Ethereum holdings, 5,067,309 ETH had been staked as of Sept. 7. The position was worth about $12.7 billion at the price used by the company and represented roughly 85% of its ETH treasury.
Bitmine reported a seven-day annualized staking yield of 2.62%, which would produce an estimated $334 million in annual staking revenue if that rate remained unchanged. Staking rewards can vary with network activity, validator participation and Ethereum’s issuance rules, so the annual figure is a projection based on the stated rate.
Much of the company’s staking activity runs through MAVAN, short for Made in America Validator Network. Bitmine created the platform to support its own Ethereum treasury and has said it plans to offer staking infrastructure to institutional investors, custodians, and other network participants.
A May 2026 filing with the U.S. Securities and Exchange Commission said MAVAN had operated mainly as an internal platform since launching in March. The filing also said an expansion into commercial staking would expose Bitmine to competition, customer-service requirements, validator downtime, and possible slashing risks.
For U.S. investors, BMNR shares provide stock-market exposure to a large Ethereum treasury without requiring direct ownership of ETH. Bitmine trades in the United States under the BMNR ticker, while its Series A preferred stock trades under BMNP.
The company also joined the Russell 1000 Large-Cap Index in June, which may place its shares in index-tracking portfolios. Even so, shareholders remain exposed to movements in ETH, changes in the value of Bitmine’s other investments, and the company’s financing decisions.
Tom Lee sees the CLARITY Act vote as a catalyst
Lee cited the approaching U.S. Senate vote on the CLARITY Act as one of several events that could support crypto demand during the final months of 2026.
The legislation seeks to create a federal market structure for digital assets and clarify the roles of U.S. regulators. A revised 635-page draft contains 126 changes requested during negotiations, including provisions covering political ethics, consumer protection, software developers, and the power of state officials to enforce parts of the law.
As previously covered, President Donald Trump accepted revised ethics restrictions ahead of the procedural vote. The proposed rules cover federal elected officials, judges, and their spouses, while certain significant crypto interests may need to be sold or placed in a blind trust.
Republicans need 60 votes to advance the measure, leaving its progress dependent on support from some Democrats. Opposition has also come from banks concerned about stablecoin rewards and from a bipartisan group of state attorneys general seeking to preserve their enforcement powers.
For U.S. crypto companies and investors, the bill could affect how tokens are classified and whether oversight falls under the SEC or CFTC. Lee treated its possible advancement as a market catalyst, although the legislation still faces procedural and political hurdles before it could become law.
Alongside the Senate vote, Lee said Korean investors had resumed buying crypto while reducing exposure to artificial intelligence stocks. He also argued that the crypto market’s four-year cycle was nearing a bottom.
“The 4-year cycle is bottoming within the next few weeks in our view,” Lee said.
According to the chairman, tokenization and what he called agentic AI could support institutional crypto purchases in the remaining months of the year. Lee has repeatedly argued that Ethereum may benefit when financial institutions place assets and transactions on public blockchains.
Bitmine adviser expects Ethereum to resume its advance
Bitmine capital markets adviser Tom DeMark also offered a positive Ethereum forecast, pointing to the token’s August price action.
DeMark said ETH traded sideways during the month without suffering a downside break. In his assessment, the expiration of a 12-day technical count supports the continuation of Ethereum’s previous upward trend.
“We expect late August’s sharp one-day rally was a likely preview of the pending advance,” DeMark said.
Ethereum traded above $2,500 on Sept. 14 after gaining about 1.4% over 24 hours. However, recent technical analysis placed resistance near $2,550 and found that the Average Directional Index had fallen to 18.84, indicating weak trend strength despite the recovery.
The same analysis showed that ETH remained above its major moving averages and that the four-hour Supertrend stayed positive above $2,429. Chaikin Money Flow remained negative, pointing to limited buying pressure while traders awaited the Senate vote and the Federal Reserve’s next policy decision.
