Bitmine’s Ethereum Treasury has grown by an additional 27,801 Ethereum, taking its holdings to over 5.77 Million ETH. Meanwhile, Chairman Tom Lee has identified Robinhood Chain as the latest driver in Ethereum adoption.
The following is a summary of the information that you will find on this page.
- Bitmine purchased another 27,801 ETH to increase its Ethereum holdings.
- Tom Lee described Robinhood Chain, a new catalyst that drives real-world demand in ETH.
- Despite the continued growth in BMNR’s shares, they fell by nearly 2%.
A press release Bitmine purchased 27801 ETH in the last week. This brings its total to 5,770.038 ETH or 4.8% of Ethereum’s 120.7 million coin circulating supply.
Tom Lee said that his company continues to expect to have 5% ownership of the total ETH stock by the end of this year. He reiterated the strategy of accumulation it’s been using since 2026.
Ethereum Treasury Continues to Expand
Bitmine is still accumulating at a steady pace. Arkham Intelligence, a blockchain intelligence platform, tracked Bitmine’s progress last week. another acquisition of 40,000 ETHTwo wallet addresses, linked to FalconX hot wallets and Kraken, are used to access the funds, which is approximately $70,000,000.
The company has published regular updates on its Ethereum Treasury, detailing the additions.
Bitmine also continues to invest a substantial portion of its stock. The company revealed that 4 917 189 ETH had been staked. This generated projected annualized revenue from staking of about $242 millions. In the most recent filing, it is also revealed that Ethereum has an average price of $3.374 for each coin.
DropsTab’s market data estimates Bitmine still has an unrealized profit of approximately $9.2 Billion based on market prices.
The company is still buying, and has previously purchased 42,197 Ethereum between June 29th and July 3rd, around the time that Bitcoin Treasury company Strategy was also purchasing. sold more than $200 million Bitcoins are worth about $
Robinhood Chain enhances Ethereum’s Utility Case
Lee also highlighted the latest update on the treasury. Robinhood Chain As an important development in Ethereum’s value proposition for the long term. He argued the network embedded Ethereum directly in user activity, because ETH is the native token for gas, that transaction fees are also paid in ETH and the final settlement takes place on the Ethereum Blockchain.
“Robinhood Chain uses ETH as the native gas token. And transaction fees are denominated in ETH, and the finality is settled on Ethereum. Robinhood’s 27 million users are paying crypto fees denominated in ETH. In other words, everyday users are starting to see ETH as money.”
Lee said that Robinhood Chain had already exceeded $1 billion dollars in trading volume, and processes more volume now than any other decentralized exchange. He described this as an indication of a strong product-market match built around Ethereum.
Separate reports from the market recently stated that the network has reached 7.6 million daily transactionsBase has been overtaken by.
Investors have reacted cautiously after the recent announcement. Bitmine has continued to expand its Ethereum exposure. Yahoo Finance reports that the shares of BMNR (the company’s stock) traded for $14.61 today, down 2.4% from the previous day.
Bitmine’s aggressive acquisition strategy continued to move Bitmine closer towards its goal of controlling 5 percent of Ethereum circulating supply.
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Source: crypto.news
