Bitmine continued expanding its ether holdings last week, acquiring 42,197 ETH worth an estimated $74 million and pushing its treasury above 5.7 million ETH, approaching 5% of Ethereum's total circulating supply. Chairman Tom Lee connected recent ether price strength to improving prospects for the Clarity Act, proposed U.S. legislation aimed at establishing a clearer regulatory framework for digital assets. Lee suggested that greater legal certainty could bolster institutional confidence in ether and support further price gains. Bitmine's accumulation strategy positions the company among the largest corporate holders of ETH, mirroring a broader trend of firms building substantial crypto treasuries. The concentration of such a significant share of Ethereum's supply within a single entity has drawn attention to both the potential market influence and the risks associated with large institutional positions in the asset.
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