Bitmine ramps up ether purchases, while Strategy divests a portion of its bitcoin assets.
By Krisztian Sandor|Edited by Stephen Alpher Jul 6, 2026, 12:54 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Bitmine chairman Tom Lee speaking at Consensus Miami 2026 (CoinDesk)SummaryShow- Bitmine Immersion acquired 42,197 ether last week, valued at approximately $74 million, continuing its acquisition trend.
- Chairman Thomas Lee linked ETH's recent success over bitcoin and Bitmine's ongoing purchases to heightened investor enthusiasm surrounding the potential passage of the Clarity Act, which would enhance regulatory clarity for cryptocurrencies, particularly Ethereum.
- Bitmine now controls 4.8% of the total ether supply, getting closer to its target of 5% of the asset's total supply.
Bitmine Immersion (BMNR), the largest treasury for Ethereum (ETH), has intensified its acquisition efforts, purchasing 42,197 ether last week, as Chairman Thomas Lee highlighted the improving outlook for U.S. cryptocurrency legislation as a driving factor.
This latest acquisition, valued at around $74 million based on ether's current trading price of roughly $1,750, has increased the company's total ether holdings to 5.74 million ETH, according to a Monday announcement. This stash is currently valued at about $10 billion, representing 4.8% of the circulating ether supply, and bringing the firm closer to its goal of acquiring 5% of the total supply.
In addition to its ether holdings, the company holds 206 bitcoin, $527 million in cash and marketable securities, and investments in Beast Industries and Eightco Holdings, leading to a total of $11.1 billion in crypto, cash, and investments.
This recent purchase is an increase from the previous week's acquisition of 27,084 ETH, although it remains below the six-figure weekly buying pace that Bitmine maintained earlier this year.
Bitmine's Acquisitions Contrast with Strategy's Divestments
Bitmine's ongoing purchases stand in stark contrast to the recent strategy of Strategy (MSTR), the largest corporate holder of bitcoin, which sold approximately $216 million in BTC to generate cash. This sale signifies a rare reduction in Strategy's bitcoin holdings, highlighting the financial pressures the company is experiencing amid a downturn in the crypto market and rising dividend obligations.
The divergent paths of Bitmine's purchasing and Strategy's selling may have contributed to ether's 6% outperformance against bitcoin last week, even as these gains followed a prolonged downtrend since August.
Lee attributed the recent strength of ETH compared to BTC to growing optimism about the Clarity Act's potential passage.
"Investors have become more optimistic about the passage of the Clarity Act," he noted, adding that prediction markets currently assign about a 50% chance of the legislation being enacted, the highest level in the last two weeks.
"We believe that regulatory clarity is a crucial milestone that will enable cryptocurrencies, especially smart contract platforms like Ethereum, to integrate more fully into daily life," Lee stated, citing examples of Ethereum layer-2 networks facilitating USDC transactions for companies such as Shopify and Visa, showcasing the integration of blockchain technology into mainstream payment systems.
Additionally, the company has staked over 4.8 million ETH through its MAVAN staking platform and its associated infrastructure, generating ongoing staking revenue alongside its treasury management strategy. At current values, these staked assets amount to approximately $8.5 billion.
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