Bitmine buys 27,180 ETH units, Tom Lee is optimistic that the cryptocurrency market will rebound at

Bitmine Immersion Technologies increased its holdings of 27,180 Ethereum units in a week, and its holdings rose to 5.96 million.

Tom Lee, chairman of the company, pointed out that the U.S. legislative process and institutional demand may be the key factors driving the rebound of the cryptocurrency market at the end of the year. In the past week, Bitmine Immersion Technologies purchased 27,180 Ethereum (ETH) units, raising its total position to 5.96 million units.

Position size and strategic positioning

According to a press release issued by the company, as of September 13, Bitmine held 5,956,378 Ethereum, the latest data after increasing its holdings of 27,180 tokens in the previous week. Based on Coinbase's offer of US$2,513 per ETH, Bitmine's position is worth nearly US$15 billion. This position accounts for approximately 4.9% of Ethereum's total supply of 122 million units, putting the company just one step away from its goal of holding 5% of all Ethereum.

Lee said: "Bitmine's record of continuing to buy cryptocurrencies is unmatched by no one in the world's listed companies." The acquisition follows the purchase of 28,086 ETH units in the previous week. As early as the end of August, Bitmine reported holding 5,901,112 ETH units, meaning its treasury continues to expand even as ether recovers from its June low.

Currently, Bitmine's total investment portfolio (including crypto assets, cash, marketable securities and private investments) has reached US$15.8 billion. In addition to Ethereum, the company also holds 212 bitcoins,$549 million in cash and securities,$180 million worth of shares in Beast Industries and $98 million worth of equity in Eightco Holdings. Among them, Ethereum positions account for the vast majority of the reported portfolio value, making the company's balance sheet highly sensitive to changes in the Ethereum market price. Bitmine uses a unit price of $2,513 to calculate the value of its positions as of the reporting deadline.

Pledged income and MAVAN platform

Among the total number of Ethereum held by Bitmine, as of September 7, 5,067,309 ETH items have been pledged. Based on the prices used by the company, this position is worth approximately US$12.7 billion, accounting for approximately 85% of its Ethereum treasury.

Bitmine reported an annualized seven-day pledge yield of 2.62%. If this ratio remains unchanged, approximately US$334 million in pledge revenue is expected to be generated annually. It should be noted that pledge rewards fluctuate with changes in network activity, verifier participation, and Ethereum issuance rules, so the above annual revenue is only a forecast based on current rates.

Many of the company's pledge activities are conducted through MAVAN (Made in America Validator Network). Bitmine created the platform to support its own Ethereum treasury and said it plans to provide pledge infrastructure to institutional investors, custodians and other network participants. According to a May 2026 filing with the U.S. Securities and Exchange Commission (SEC), MAVAN has mainly operated as an internal platform since its launch in March this year. The document also states that expanding into commercial pledge space will expose Bitmine to competition, customer service requirements, validator downtime and potential "forfeiture" risks.

For U.S. investors, BMNR shares provide market exposure to large Ethereum treasuries without directly holding ETH. Bitmine is traded under the BMNR symbol in the United States, while its Class A preferred shares are traded under the BMNP symbol. In addition, the company joined the Russell 1000 Large Stock Index in June, which could put its shares in an index-tracking portfolio. Despite this, shareholders still have to bear the risks posed by fluctuations in ETH prices, changes in the value of other Bitmine investments, and the company's financing decisions.

Tom Lee: Vote on CLARITY bill may become a market catalyst

Lee listed the upcoming U.S. Senate vote on the CLARITY Act as one of several events that could support demand for cryptocurrencies in the second half of 2026. The legislation aims to establish a federal market structure for digital assets and clarify the role of U.S. regulators. A revised 635-page draft contains 126 changes requested during the negotiations, covering political ethics, consumer protection, software developers and some of the powers of state officials to enforce laws.

It was previously reported that President Donald Trump accepted revised ethical restrictions before a procedural vote. The proposed rules cover federal elected officials, judges and their spouses, and certain significant crypto-asset interests may need to be sold or placed in blind trusts.

Republicans need 60 votes to advance the measure, and its progress depends on the support of some Democrats. Opposition also comes from banks worried about stablecoin rewards and a bipartisan group of state attorneys general who want to retain its enforcement powers. For U.S. cryptocurrency companies and investors, the bill could affect how tokens are classified and whether regulatory power lies with the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). Lee views the bill's possible advancement as a market catalyst, although it still faces procedural and political obstacles before becoming law.

In addition to the Senate vote, Lee said South Korean investors have resumed buying cryptocurrencies while reducing their exposure to artificial intelligence stocks. He also believes that the four-year cycle of the cryptocurrency market is approaching the bottom. "We believe that the bottom-building process for the four-year cycle will be completed in the next few weeks," Lee said.

According to the chairman, tokenization and what he calls "proxy artificial intelligence" may support institutions 'crypto purchases before the end of the year. Lee has repeatedly argued that Ethereum will benefit when financial institutions place assets and transactions on public blockchains.

Bitmine advisers expect Ethereum to continue to rise

Bitmine capital markets adviser Tom DeMark also gave a positive forecast for Ethereum, pointing out that the price trend of tokens in August supports this view. DeMark said that ETH fluctuated sideways throughout the month and did not show a downward breakthrough. In his assessment, the 12-day technical count expiration supports a continuation of Ethereum's previous upward trend.

"We expect a sharp one-day rally at the end of August to be a preview of an upcoming rally," DeMark said.

As of September 14, Ethereum prices had risen about 1.4% in 24 hours, trading above $2,500. However, recent technical analysis shows resistance is close to $2,550 and the Average Direction Indicator (ADX) has dropped to 18.84, indicating that despite the recovery, the strength of the trend remains weak. The same analysis showed that ETH remained above its main moving average and that the 4-hour Supertrend indicator remained positive above $2,429. Chaikin's flow of funds (CMF) remains negative, pointing to limited buying pressure and traders waiting for the Senate vote and the Federal Reserve's next policy decision.