Bitmine (BMNR), the largest Ethereum treasury company, purchased 101,745 Ether ($ETH) Chairman Thomas Lee said last week that a new “crypto spring” is underway, even though market sentiment remains subdued.
This acquisition increased the company’s holdings to more than 5.18 million shares. $ETHAccording to Monday’s update, it represents approximately 4.29% of the outstanding amount of tokens outstanding.
Bitmine’s total holdings in cryptocurrencies and cash amount to $13.1 billion. In addition to that, $ETH The company holds 200 Bitcoins, $700 million in cash, and stocks, including investments in Beast Industries and Eightco Holdings.
Latest acquisition, currently worth approximately $238 million $ETH The company extended its weekly purchases to double its savings. $ETH On a scale.
Crypto wellspring builds as CLARITY Act moves forward
The bet is supported by the firm’s view that the crypto market is emerging from the “mini-winter” of the past few months, as Lee pointed to improving market conditions and positive signs of US digital asset regulations known as the CLARITY Act.
“The U.S. Senate has announced a compromise version of the CLARITY Act that prohibits stablecoin yields on reserves while still allowing for activity-based ‘rewards’ to balance the need to protect existing depository institutions (aka traditional banks),” he said in a statement. “This compromise is largely acceptable to us, and we expect this bill to be passed in 2026,” he added.Polymarket’s prediction market traders have a more than 60% chance of passage this year.
“In our view, the crypto spring has begun, and as in past cycles, investor sentiment and conviction are muted and bearish despite rising crypto prices,” Lee said.
Lee said Ethereum is benefiting from two long-term trends. One is the move to blockchain rails, known as the tokenization of financial assets, and the other is the rise of artificial intelligence (AI) tools, which, in his view, will require a neutral public network for payments and verification.
he added: $ETH Since the outbreak of the Iran conflict, it has increasingly been seen as both a store of value and a medium of exchange, citing its outperformance versus equities.
BitMine also expanded its staking operations, with over 4.36 million pledged $ETH It invests more than 84% of its holdings to generate yield and generates approximately $297 million in annual revenue. Its MAVAN staking platform is designed to support both internal operations and external agency demands. Lee is scheduled to speak at CoinDesk’s Consensus Miami this week.
