- Bitmine bought 71,672 ETH, raising total holdings to more than 5.27 million Ethereum tokens.
- Nearly 89% of Bitmine’s ETH holdings are staked across validator infrastructure and partner platforms.
- Tom Lee linked future crypto growth to clearer U.S. regulations under the proposed CLARITY Act.
Bitmine Immersion Technologies added 71,672 Ethereum over the past week after ETH briefly dropped below $2,200. According to the company’s treasury update released May 17, the purchase increased Bitmine’s total Ethereum holdings to 5,278,462 ETH, valued at roughly $11.6 billion using the firm’s reported ETH valuation of $2,191 per token.
Ethereum Holdings Climb After Price Pullback
Chairman Tom Lee said Bitmine used the recent market decline to increase exposure to Ethereum. According to Lee, the company viewed ETH below $2,200 as an attractive buying opportunity.
The latest acquisition followed another purchase disclosed on May 11, when Bitmine bought 26,659 ETH. Consequently, the company’s Ethereum reserves now account for about 4.37% of the circulating ETH supply.
Bitmine stated that Ethereum’s circulating supply currently stands near 120.7 million ETH. The company also described itself as the largest publicly disclosed Ethereum treasury holder.
Beyond Ethereum, Bitmine reported holding 202 Bitcoin alongside $685 million in cash reserves. Additionally, the firm disclosed a $200 million position in Beast Industries and an $83 million stake in Eightco Holdings.
Combined, Bitmine said its crypto, cash, and investment portfolio totaled approximately $12.6 billion.
Staking Operations Continue to Expand
According to the treasury report, Bitmine currently stakes 4,712,917 ETH across validator infrastructure and partner platforms. That figure represents nearly 89% of the company’s total Ethereum holdings.
At a seven-day annualized staking yield of 2.80%, Bitmine estimated annualized staking revenue near $289 million. The company also projected potential staking rewards could rise toward $324 million after full deployment.
Meanwhile, Bitmine recently launched MAVAN, short for Made in American VAlidator Network. The platform initially supported internal treasury operations before expanding toward institutional staking services.
CLARITY Act Remains Part of Strategy
Bitmine also referenced progress surrounding the Digital Asset Market CLARITY Act. According to Tom Lee, clearer crypto regulations could support broader participation from traditional financial institutions.
The company noted that the legislation still requires additional congressional approval before becoming law. Lee also referenced Polymarket data showing a reported 61% probability of passage in 2026.
