BitMine Adds $49M of ETH While Strategy Stocks Up on Cash 📊

BitMine Immersion Technologies, the publicly traded Ethereum treasury firm, added 27,801 ETH to its holdings last week in a purchase valued at $49 million. The acquisition brings the company's total Ethereum reserves to 5,770,038 ETH, equal to nearly 4.8% of the token's circulating supply and worth roughly $10.1 billion at a price of about $1,780 per ETH on Monday.

BitMine Chairman Tom Lee attributed part of the bullish backdrop to the early performance of Robinhood Chain, the Ethereum layer-2 network built on Arbitrum that launched its mainnet on July 1. "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," Lee said in a statement. "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." He added: "Robinhood's 27 million users are paying crypto fees denominated in ETH. In other words, everyday users are starting to see ETH as money."

DEX volumes on Robinhood Chain over the past week have topped $3 billion, according to data from DeFi Llama, though that total still trails Ethereum at $7.27 billion and Solana at $12.34 billion over the same period. Token Terminal data places Robinhood Chain's active addresses at 788,000 since launch. The chain, which uses ETH as its native gas token and finalizes on Ethereum, has produced outsized early returns for some meme coin traders, including one participant who turned $85 into more than $2 million in paper gains.

While BitMine expanded its Ethereum position, Strategy did not add to its Bitcoin holdings for a third straight week. The company raised $467 million over the period by issuing common stock, lifting its "USD Reserve" balance to $3 billion. Shares of Strategy were down 4% following the opening bell, changing hands around $90.80, according to Yahoo Finance. BitMine shares (BMNR) traded around $14.65 shortly after Monday's open, down more than 2.2% on the session and off 5.7% over the previous five trading days. Ethereum itself slipped roughly 2% in the last 24 hours and was up about 1.3% over the week.

Separately, AVAX One Technology, a crypto treasury firm that holds Avalanche (AVAX), announced Thursday that it has regained compliance with Nasdaq's minimum bid price requirement, closing out a prior listing issue.