BitMine's $49M ETH Top-Up Brings Stash to 4.8% of Supply While Tom Lee Cheers Robinhood Chain's $1B Debut 🚀

BitMine Immersion Technologies added 27,801 ETH worth $49 million to its corporate treasury last week, bringing its total holdings to 5,770,038 ETH, or roughly 4.8% of Ethereum's circulating supply, the company said in a Monday press release. The treasury, valued at about $10.1 billion with ETH trading near $1,780, now includes nearly five million staked ETH, 206 BTC, a $180 million stake in Beast Industries, a $69 million stake in Eightco Holdings (ORBS) and approximately $482 million in cash and marketable securities. Shares of BitMine (BMNR) were down more than 2.2% shortly after Monday's opening bell at around $14.65, having slipped 5.7% over the prior five trading days, while ETH itself fell about 2% in the last 24 hours and was up roughly 1.3% on the week.

Chairman Tom Lee attributed the buying rationale in part to the early traction of Robinhood Chain, an Ethereum layer-2 network built on Arbitrum that went live 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. "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." Lee added that "Robinhood's 27 million users are paying crypto fees denominated in ETH," framing that as evidence that "everyday users are starting to see ETH as money."

The chain, which settles on Ethereum and uses ETH as its native gas token, has registered DEX volumes above $3 billion in the past week, according to DeFi Llama, trailing the $7.27 billion recorded on Ethereum and the $12.34 billion on Solana over the same period. Token Terminal data cited in reporting puts active addresses on Robinhood Chain at 788,000 to date, even as the network produced outsized paper gains for some early meme-coin participants, including one trader whose $85 position grew to more than $2 million in unrealized value.

Strategy, the largest corporate Bitcoin holder, made no BTC purchases last week and instead sold common stock to lift its USD Reserve to $3 billion, having raised $467 million over the period, the company announced. Its shares were down 4% at the open, changing hands around $90.80, according to Yahoo Finance.

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