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ETH 
SOL Listed company BitMine repurchased US$49 million worth of ETH, accounting for nearly 4.8% of its position.
Publicly traded Ethereum treasury company BitMine Immersion Technologies once again increased its holdings of US$49 million worth of Ethereum (ETH) last week, purchasing 27,801 ETH units. The company currently holds a total of 5,770,038 ETH, accounting for approximately 4.8% of the token's circulation supply. Based on Monday's Ethereum price of approximately US$1780, the value of the position is approximately US$10.1 billion.
BitMine Chairman Tom Lee said the purchase comes amid a strong week for Ethereum's underlying network. He pointed out that Robinhood's Ethereum-based Layer-2 network "Robinhood Chain" performed well in public. Lee said in a statement: "One of the most successful encryption stories of 2026 was the breakthrough launch of the Robinhood Chain L2 main network built on Arbitrum on July 1. At present, its US dollar trading volume has exceeded US$1 billion, and Robinhood Chain's trading volume has exceeded that of any other decentralized exchange (DEX), fully demonstrating Ethereum's excellent practicality as the underlying chain and product-market fit."
According to DeFi Llama, DEX transaction volume on the chain exceeded US$3 billion last week, but it still lags behind more mature networks such as Ethereum and Solana, which were US$7.27 billion and US$12.34 billion respectively during the same period. Robinhood Chain completed the final settlement on Ethereum and used ETH as a native fuel token. It developed rapidly in its early days and brought considerable benefits to some early meme traders-for example, someone turned $85 into a book gain of more than $2 million.
Li emphasized: "Robinhood's 27 million users are paying crypto fees denominated in ETH. In other words, ordinary users began to see ETH as currency." Although the mobile broker claims to have millions of users, data collected by Token Terminal shows that there are only 788,000 active addresses on Robinhood Chain so far.
Despite chain activity, ETH has fallen about 2% in the past 24 hours and has only risen about 1.3% in the past week. However, this performance was still significantly better than BitMine (BMNR) shares, which have fallen 5.7% in the past five trading days. Shortly after the market opened Monday, BitMine shares were trading at around $14.65, down more than 2.2% from the opening price.
