BitMine now maintains a treasury of 5,742,237 ETH—more than 4.7% of the Ethereum circulating supply—valued at nearly $10 billion, as ETH changes hands at $1,752.
“Over the past few days, investors have become more optimistic about the passage of the Clarity Act with prediction markets now seeing approximately 50% probability, the highest odds in two weeks,” said Lee in a statement.
“We believe regulatory clarity is an important milestone, enabling crypto, particularly smart contract platforms like Ethereum, to benefit, as crypto becomes part of our everyday life,” he added.
"Being added to the Russell 1000 is expected to add hundreds and possibly thousands of additional institutional investors as equity owners of BitMine," he said.
In addition to its ETH purchase, the firm has increased its staked ETH to 4,879,157 or nearly 85% of its entire stack, bringing its projected annualized staking revenue to $235 million.
ETH has gained more than 10% in the last week to change hands around $1,752, but remains 65% off its all-time high of $4,946.
