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ETH BitMine increased its Ethereum holdings by US$49 million, close to 4.8% of its circulating supply.
BitMine Immersion Technologies, a listed company focused on holding Ethereum, last week acquired 27,801 ETH units for US$49 million, increasing its Ethereum holdings. According to recent disclosures, this purchase brought BitMine's total position to 5,770,038 ETH, accounting for approximately 4.8% of the token's circulation supply.
Strong demand for Ethereum, and large-scale increases in holdings showed
The trading price of Ethereum on Monday was approximately US$1780, and BitMine's current position value was approximately US$10.1 billion. The company's massive increase in holdings suggests that demand for Ethereum from institutional finance continues even as the broader cryptocurrency market remains volatile.
BitMine Immersion Technologies is focused on actively managing digital asset reserves and is one of the world's largest holders of Ethereum treasury. The number of Ethereum it holds is 5,770,038, with a valuation of approximately US$10.1 billion, accounting for 4.8% of the circulating supply.
After the market opened on Monday, BitMine shares (symbol BMNR) were trading at approximately US$14.65, down more than 2.2% since the market opened. BitMine shares have fallen 5.7% in the past week, while Ethereum has gained about 1.3% over the same period. However, Ethereum itself has fallen about 2% in the past 24 hours.
Robinhood Chain's Impact on Ethereum
BitMine Chairman Tom Lee commented on the improvement of the Ethereum ecosystem and mentioned the successful launch of the Robinhood Chain second-layer network main network. Lee said that Robinhood Chain was launched on July 1 as a second-layer solution based on Arbitrum that accelerates decentralized finance activities. Robinhood is a mobile brokerage platform with millions of users that supports cryptocurrency transactions and has launched its own blockchain expansion solution.
"One of the biggest cryptocurrency success stories in 2026 is the breakthrough success of the Robinhood Chain L2 main network," Lee said, noting that its dollar trading volume has exceeded US$1 billion, and Robinhood Chain now outperforms other decentralized exchanges in terms of trading volume. Lee believes this proves Ethereum's strong product-market fit, as Robinhood Chain leverages Ethereum's security and settlement infrastructure.
"Robinhood's 27 million users are paying crypto fees denominated in ETH. In other words, everyday users are starting to see ETH as a currency,"said Tom Lee.
Robinhood Chain uses ETH as a native fuel token and completes transaction settlement on the Ethereum main network. According to Token Terminal data, as of now, Robinhood Chain has 788,000 active addresses, showing the appeal of early users. It has been reported that some early traders on the blockchain made considerable paper profits, including in one case when someone turned $85 into more than $2 million.
According to DeFi Llama, the volume of decentralized exchange transactions on Robinhood Chain exceeded $3 billion last week. However, these numbers still lag behind mature networks such as Solana and Ethereum, which recorded decentralized exchange transaction volume of $12.34 billion and $7.27 billion respectively during the same period.
Small Dictionary: Robinhood Chain is a two-layer blockchain built based on Arbitrum that is used to extend the Robinhood transaction ecosystem, support cheaper and faster transactions, and use Ethereum as the settlement layer. The second-tier solution processes transactions outside of the main blockchain and then settles the results onto the underlying chain, improving scalability and user experience.
Strategy focuses on cash reserves and suspends Bitcoin purchases
While BitMine further adds to Ethereum, digital asset company Strategy has suspended additional Bitcoin purchases for the third consecutive week. Instead, the company raised $467 million last week through a common stock issue, increasing its cash holdings, known as dollar reserves, to $3 billion. No new Bitcoin acquisitions were reported during this period.
Strategy shares opened at $90.80 on Monday and fell 4% after the opening. Although it did not add bitcoin to the treasury, Strategy significantly enhanced its liquidity profile compared to previous weeks.
The different strategies adopted by BitMine and Strategy reflect the differentiation of corporate financial management strategies in the digital asset industry in the face of a continuously volatile market environment and intensified competition within major networks.
