BitMine's ETH Stash Hits 4.8% of Supply While Tom Lee Crowns Robinhood Chain the Breakaway Hit of 2026 🏆

BitMine Immersion Technologies added 27,801 ETH worth $49 million last week, lifting its total holdings to 5,770,038 ETH, or roughly 4.8% of Ethereum's circulating supply of 120.7 million tokens, according to a Monday press release. At Ethereum's price of around $1,780 on Monday, the treasury is valued at approximately $10.1 billion. The company said nearly 5 million of its ETH are staked, representing about 85% of its holdings and making BitMine the largest corporate staker of ether.

Beyond ether, BitMine's balance sheet includes 206 BTC at $62,474.96, a $180 million stake in Beast Industries, a $69 million stake in Eightco Holdings (ORBS), and about $482 million in cash and marketable securities. In its latest 10-Q filing, BitMine reported $45.7 million in revenue from Ethereum staking and validation during the quarter ended May 31, accounting for 98% of total revenue, compared with $624,000 from self-mining BTC and $168,000 from consulting. The company projects annualized staking rewards of $284 million once its holdings are fully staked through MAVAN, the institutional-grade Ethereum staking platform it launched in March.

Chairman Tom Lee pointed to the July 1 launch of Robinhood Chain, a layer-2 network built on Arbitrum (ARB) that settles on Ethereum and uses ETH as its native gas token. "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 the release. "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. In other words, everyday users are starting to see ETH as money."

DeFi Llama data cited by the company shows DEX volume on Robinhood Chain of more than $3 billion over the past week, though that figure trails Ethereum's $7.27 billion and Solana's $12.34 billion over the same period. Token Terminal data referenced separately puts active addresses on the chain at 788,000. Meme coin traders have also produced outsized paper gains on the new network, with at least one wallet turning $85 into more than $2 million.

BMNR shares were down roughly 2.2% to $14.65 shortly after Monday's opening bell and have lost 5.7% over the past five trading days, while ETH slipped about 2% in the last 24 hours and gained around 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.