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Bitmine Crosses 4% of ETH Supply as Saylor Reveals Another $1B BTC Buy

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ETH Chart

The largest Ethereum treasury company now holds 4.875 million ETH, while Strategy acquired nearly 14,000 BTC last week.

Bitmine Immersion Technologies has crossed a significant threshold in its long-running accumulation campaign, announcing Sunday that its ETH holdings have surpassed 4% of the asset’s total circulating supply.

As of April 12, Bitmine held 4,874,858 ETH, representing 4.04% of the 120.7 million ETH in circulation. The company said its combined crypto, cash, and “moonshot” equity holdings total $11.8 billion, including $719 million in cash.

The company said it acquired 71,524 ETH in the past week alone, bringing it 81% of the way toward its stated goal of owning 5% of the network’s supply.

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“ETH is now the best performing asset since the start of the war, with a 17.4% gain and outperforming the S&P 500 by 1,830 basis points,” said Chairman Tom Lee in the company’s Sunday release, adding that ETH’s outperformance over gold “demonstrates ETH is the wartime store of value.”

ETH is up 1.8% over the past 24 hours, according to Coingecko.

ETH Chart
ETH Chart

Bitmine also disclosed that 3,334,637 of its ETH, valued at $7.4 billion, is now staked, generating $212 million in annualized staking revenue. The figure is expected to rise as its proprietary MAVAN (Made in America Validator Network) platform reaches full deployment.

Bitmine uplisted to the New York Stock Exchange from the NYSE American on April 9, trading under the ticker BMNR. The company is the world’s second-largest crypto treasury overall, behind Strategy, and Michael Saylor widened that gap on Monday, disclosing that Strategy had acquired 13,927 BTC for approximately $1 billion at an average price of roughly $71,902 per bitcoin.

As of April 12, Strategy holds 780,897 BTC acquired at an average price of $75,577, accounting for roughly 3.8% of the circulating Bitcoin supply.

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Lee cited the GENIUS Act and the SEC’s Project Crypto as structural tailwinds, comparing their potential impact on financial services to Nixon’s 1971 decision to end the Bretton Woods gold standard.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

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Bitmine’s Ethereum Holdings Cross 4% Milestone After Latest Weekly Accumulation

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Ethereum (ETH) Price Performance

Bitmine Immersion Technologies has pushed its Ethereum (ETH) exposure to new highs. The firm’s holdings surpassed 4% of the total ETH supply as it accelerates its accumulation strategy.

In its latest update, the company revealed it acquired 71,524 ETH over the past week, its “highest pace of buys since the week of December 22, 2025.”

Bitmine Moves Closer to Its 5% ETH Supply Target After Latest Buy

The latest buy brings Bitmine’s total holdings to approximately 4.87 million ETH. This puts it roughly 81% of the way toward its “Alchemy of 5%” target, nine months after launching its ETH treasury strategy.

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Beyond Ethereum, Bitmine’s broader balance sheet reflects a diversified portfolio. The company currently holds 198 Bitcoin, alongside equity stakes valued at $200 million in Beast Industries and $85 million in Eightco Holdings. It also reported cash reserves of approximately $719 million.

Tom Lee Frames Ethereum as Wartime Safe Haven

Bitmine Chairman Thomas Lee argued that Ethereum has emerged as a standout performer over the past few weeks. He noted that ETH has gained 17.4% since the onset of the ongoing geopolitical conflict.

The second-largest cryptocurrency has outperformed the S&P 500 by 1,830 basis points and surpassed gold by 2,743 basis points. This performance, in his view, positions ETH as a “wartime store of value.”

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“Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains,” Lee added.

Meanwhile, the latest accumulation comes amid a broader rebound in risk assets. Ethereum climbed more than 7% over the past 24 hours to trade near $2,369.7, as market sentiment improved following developments tied to the US Hormuz blockade.

Ethereum (ETH) Price Performance
Ethereum (ETH) Price Performance. Source: BeInCrypto Markets

Shares of Bitmine (BMNR) also reacted positively. BMNR closed more than 4% higher, with additional gains of around 1% in after-hours trading. However, despite the recent price recovery, Bitmine’s aggressive positioning still carries significant downside.

The firm’s crypto holdings remain underwater, with unrealized losses exceeding $6 billion, highlighting the volatility tied to its high-conviction bet on Ethereum.

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The post Bitmine’s Ethereum Holdings Cross 4% Milestone After Latest Weekly Accumulation appeared first on BeInCrypto.

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Senator Tillis eyes “crypto-palooza” to break stalemate over stablecoin yield regulations

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CLARITY Act Stablecoin Yield Compromise Language

A bipartisan effort to bridge the divide between Wall Street and the digital asset industry could see a breakthrough as early as this week.

Summary

  • Senator Thom Tillis plans to release a draft agreement this week aimed at resolving the dispute between banks and crypto firms over stablecoin interest payments.
  • The proposed language for the Clarity Act seeks to settle whether digital asset companies can offer rewards on idle balances after banks voiced concerns regarding deposit drains.

Politico reports that Senator Thom Tillis (R-N.C.) is preparing to unveil a draft agreement aimed at settling the fierce debate over stablecoin yields. 

Working alongside Senator Angela Alsobrooks (D-Md.), Tillis has been refining language for the Clarity Act, a piece of legislation intended to set a regulatory framework for the crypto sector. 

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The primary sticking point remains whether digital asset firms should be permitted to pay interest on idle stablecoin balances, a practice banks claim threatens their deposit base.

“I think the language has come together well,” Tillis stated on Monday, noting that a public release depends on the continued success of ongoing discussions.

Banking representatives have already expressed concerns regarding the latest proposal from the two senators. Traditional lenders argue that high-yield stablecoin products could pull liquidity out of the banking system, creating instability. 

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Conversely, crypto platforms like Coinbase argue that a ban on rewards would hinder growth and ignore the potential for banks to participate in these new markets. 

While the GENIUS Act, passed last year, prohibited stablecoin issuers from paying interest directly, it left a loophole for third-party exchanges to offer yields, which the Clarity Act now seeks to address.

The White House has attempted to mediate the standoff through several private meetings since January, yet both sides have remained firm in their views. 

Senator Tillis has suggested hosting a “crypto-palooza” on Capitol Hill, bringing both factions together in a public forum to force a resolution. 

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Even if a compromise is reached, the bill faces a steep climb through the Senate Banking and Agriculture Committees before it can reach the floor for a final vote.

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StarkWare Cuts Jobs, Restructures Around Revenue Push

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StarkWare Cuts Jobs, Restructures Around Revenue Push

Zero-knowledge scaling company StarkWare is cutting jobs and restructuring its operations as it shifts from infrastructure development toward revenue-generating products. 

CEO Eli Ben-Sasson said in internal remarks that the firm will split into two business units and cut headcount to move faster and operate more efficiently, with one unit focused on applications and the other on Starknet development.

Ben-Sasson said the company would adopt a “startup mode” mindset, prioritizing fewer initiatives with higher revenue potential, while warning that downsizing would affect employees across the organization. StarkWare did not disclose how many employees would be affected by the cuts.

The move reflects a wider retrenchment across crypto firms, which have been trimming headcount and narrowing priorities as they chase clearer product-market fit, stronger monetization and leaner operations. Messari, Algorand Foundation and Crypto.com all announced cuts in March.

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Source: Eli Ben-Sasson

StarkWare says technical edge must translate into revenue

Ben-Sasson said StarkWare’s next phase would center on turning its technology into “meaningful revenue” and “meaningful usage,” arguing that the company could no longer rely mainly on external blockchains or third-party teams to prove the value of its stack.

Ben-Sasson said the company would focus on “fewer things excellently” and prioritize products with revenue potential that can be built only on its technological stack. 

Related: Decentralized email platform Dmail to cease services on May 15

“We’re going to achieve this by innovating across not just infrastructure, as we’ve done so far, but across the whole stack of infrastructure and product,” he said. 

Crypto layoffs continue as firms tighten strategy

StarkWare’s cuts follow other recent layoffs across the crypto sector as firms narrow priorities and reshape operations. On March 17, Messari announced layoffs alongside a leadership change as the company moved deeper into artificial intelligence-powered research and data tools for institutions. 

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On March 19, the Algorand Foundation said it would cut 25% of its employees, citing macro uncertainty and the broader crypto downturn. The organization said the move was aimed at better aligning resources with its long-term business, technology and ecosystem priorities.

On the same day, Crypto.com also announced a 12% reduction of its workforce as part of a broader push into AI. The exchange said the layoffs were tied to company-wide AI integration and a decision to prioritize resources around key growth areas.

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