Bitmine Adds 27,180 ETH as Tom Lee Cites Clarity Act as Catalyst For Year-End Rally
Highlights
- Bitmine added 27,180 ETH last week as holdings approach 5% of total Ethereum supply.
- The company now holds 5,956,378 ETH.
- The BMNR stock is down less than 1% today.
Bitmine added more ETH last week as it approaches its goal of holding 5% of the total Ethereum supply. This comes ahead of the upcoming Clarity Act vote, which the company’s Chairman, Tom Lee, cited as a positive catalyst for a potential year-end crypto rally.
Bitmine Acquires 27,180 ETH As Holdings Approach 5% of Ethereum Supply
In a press release, the Ethereum treasury firm said it acquired 27,180 ETH last week, continuing its long-running streak of buying ETH every week. “Bitmine’s track record of consistent buying of crypto is unmatched by any public company in the world,” Chairman Tom Lee said.
Bitmine now holds 5,956,378 ETH, representing 4.9% of the total Ethereum supply, and is now 98% of the way to reaching its goal of holding 5% of the total Ethereum supply. Meanwhile, the company’s total staked ETH stands at 5,067,309, worth nearly $13 billion at current prices.
The latest Ethereum purchase follows Bitmine’s 28,086 ETH buy two weeks ago, even as the ETH price rebounds from its June lows and looks to break out above the $2,500 psychological level. The Ethereum treasury firm has remained bullish on ETH as Tom Lee predicts that the layer-1 network will benefit largely from the tokenization boom.
The BMNR stock is trading at $24, down almost 2% today, according to TradingView data. However, the crypto stock is up over 36% in the last month, rebounding alongside Ethereum and the broader crypto market.
Tom Lee Cites Clarity Act Vote As Positive Catalyst
Tom Lee said they see the upcoming Clarity Act vote as one of several positive catalysts heading into the final months of the year. President Trump has agreed to the ethics provision, which notably boosts the chances of the Senate passing the crypto bill before it heads for the mid-term recess.
Meanwhile, the Bitmine Chairman also said that Korean investors have started buying crypto again and rotating away from AI stocks. “The 4-year cycle is bottoming within the next few weeks in our view. And this sets the stage for what we expect to be sizable institutional participation in buying crypto in the final months of 2026, especially given the tailwinds of tokenization and Agentic-AI,” he added.
Specifically, Tom Lee said a Bitmine advisor expects a sharp upward move in Ethereum’s price in the coming weeks. The advisor noted that ETH moved sideways without a breakdown in August, suggesting renewed upside.
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