Bitmine Immersion Technologies has bought an additional $74 million worth of ethereum.

On July 6 (local time), blockchain outlet Cointelegraph reported that Bitmine said it held 5,742,237 ETH as of July 5. The purchase raised Bitmine's ether holdings by 42,197 from the figure it disclosed last week.

The company recently calculated its holdings at about $1,759 per ETH, putting the value of the additional amount at about $74 million. Ethereum is currently trading above $1,800.

Bitmine continues to accumulate ethereum as a core asset in its treasury strategy. After the additional purchase, the company's holdings rose to about 4.8 percent of total ethereum supply of about 121 million. This shows that the trend of publicly listed companies holding large amounts of ethereum as part of their treasury strategies is continuing.

Bitmine chairman Tom Lee (톰 리) cited expectations that a U.S. digital asset market Clarity bill will pass as background to the strategy. He called optimism about the bill's chances a "major milestone" and said smart contract platforms such as ethereum could benefit. He added that this was one reason the company is maintaining an ethereum-centered treasury strategy.

In the market, people do not rule out the possibility that the bill could pass by year-end. Prediction-market participants put the odds of passage by year-end at about 48 percent. Political variables remain before the bill is processed.

The Clarity bill is cryptocurrency-related legislation under review in the U.S. Senate. If it passes, the U.S. Commodity Futures Trading Commission's (CFTC) authority to regulate and oversee digital assets is expected to expand. Republican senators are pushing for a vote when the Senate returns after next week's district schedule ends, but it is unclear how much Democrats will join in while ethics provisions remain unclear. Passage in the Senate requires 60 votes, and Republicans hold only a slim majority.

Bitmine's move contrasts with Strategy, which sold bitcoin the same day. Strategy said it sold $216 million worth of bitcoin to raise funds to pay dividends, cutting its holdings to 843,775 BTC. One side bought more ethereum to bolster its treasury strategy, while the other reduced bitcoin to meet cash needs.

Amid this trend, market attention is shifting to whether the U.S. Congress will process the bill and the direction of corporate treasury strategies. Bitmine is continuing to expand its holdings on the view that changes in the regulatory environment could work in ethereum's favor, and whether the bill's discussions advance could also influence its stance on additional purchases.