BitMine Expands Ethereum Holdings to 5.77 Million Tokens
BitMine has raised its Ethereum (ETH) treasury to 5.77 million tokens, representing 4.8% of the total circulating supply, according to CoinDesk. Chairman Tom Lee credited the company's increased focus on ETH to the rapid growth of trading on Robinhood Chain, a layer-2 solution built on Ethereum.
BitMine Immersion (BMNR) has increased its holdings of Ethereum (ETH) to 5.77 million tokens, representing approximately 4.8% of the total circulating supply, which stands at 120.7 million. Of these holdings, nearly five million ETH are staked, enabling BitMine to earn rewards while maintaining a substantial corporate treasury.
Beyond Ethereum, BitMine's portfolio includes 206 Bitcoin (BTC) and significant stakes in other entities, such as $180 million in Beast Industries and $69 million in Eightco Holdings. The company also holds around $482 million in cash and marketable securities.
Chairman Tom Lee highlighted the growing utility of Ethereum, pointing to the impressive early trading volumes on Robinhood Chain, a layer-2 network utilizing Arbitrum (ARB) technology. He noted that the Robinhood Chain L2 mainnet, launched on July 1, has become one of the biggest success stories of 2026, with trading volumes exceeding $1 billion.
Lee stated, "One of the biggest crypto success stories in 2026 is the breakaway success of the Robinhood Chain L2 mainnet on July 1, built on Arbitrum. Already, dollar volumes have exceeded $1 billion, and Robinhood Chain now has more trading volume than any other decentralized exchange (DEX), demonstrating the outstanding utility and product market fit for Ethereum, which is the underlying chain."
This strategic acquisition of ETH is part of BitMine's broader efforts to leverage the growing activity in Ethereum's layer-2 networks and enhance its financial position in the crypto market.
Summary based on original reporting by Helene Braun at CoinDesk, originally published Jul 13, 2026. SolanaWire does not republish source content.
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