Crypto
BitMine Adds 53,501 More ETH, Ties Move to CLARITY Act Catalyst
BitMine Immersion Technologies has added 53,501 more ETH to its treasury, pushing its total holdings to 5.901 million ETH worth roughly $14.63Bn at current prices.
This purchase marks BitMine's largest weekly acquisition since June and brings its total ETH holdings to 4.89% of the total ETH supply.
According to Chairman Thomas Lee, the move is tied to Ethereum's Q3 outperformance versus the S&P 500 and the potential institutional catalyst of a mid-September Senate cloture vote on the CLARITY Act.
The accumulation pattern now sits alongside a 5.067 million ETH stake in its MAVAN validator network, generating an estimated $335 million in annualized staking revenue.