Tom Lee Buys 27,000 ETH Ahead of Clarity Act Vote

Bitmine Immersion Technologies acquired 27,180 ether (ETH) last week, increasing its total reserve to 5,956,378 ETH, equivalent to 4.9% of the total supply of 122 million ETH. The firm aims to control 5% of the circulating supply. This purchase coincides with the upcoming vote in the U.S. Senate on the Clarity Act, which will take place on September 15, 2026, and requires 60 votes for formal discussion. The law proposes a regulatory framework for digital assets, dividing oversight between the SEC and the CFTC. Tom Lee, president of Bitmine, justified the purchase by pointing out that there are multiple positive catalysts for ETH in the coming months. Additionally, the company highlighted its strategy of consistently buying cryptocurrencies since June 30, 2025. Lee also projected that the four-year cycle will bottom out in the coming weeks, anticipating significant institutional participation in cryptocurrency purchases by the end of 2026.

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