BitMine Expands Ethereum Holdings to 5.77 Million ETH, Bolstered by Layer-2 Success

BitMine’s Ethereum Holdings Increase Significantly

BitMine has announced a substantial increase in its Ethereum treasury, now holding 5.77 million ETH, which represents 4.8% of the total circulating supply. This expansion comes as the company continues its commitment to cryptocurrencies and blockchain technology.

Growing the Ethereum Treasury

The latest figures show that BitMine Immersion (BMNR) has enhanced its Ethereum holdings remarkably, following a recent decision to augment its treasury. Nearly five million of these tokens are staked, enabling the company to earn staking rewards while maintaining a position among the largest corporate holders of Ethereum.

Investment Portfolio and Future Focus

In addition to its Ethereum assets, BitMine’s investment portfolio consists of 206 BTC, valued at approximately $62,309.50, a $180 million stake in Beast Industries, a $69 million stake in Eightco Holdings, and about $482 million in cash and marketable securities.

Layer-2 Networks: A Key Driver

BitMine’s chairman, Tom Lee, highlighted the significance of rapid developments in layer-2 networks, such as the Robinhood Chain, as a pivotal factor for the company’s continuous focus on Ethereum. Lee stated, “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. Already, dollar volumes have exceeded $1 billion, and Robinhood Chain now has more trading volume than any other decentralized exchange (DEX).”

Understanding Robinhood Chain

The Robinhood Chain employs Arbitrum technology to process transactions off the Ethereum network before they are finalized on the main blockchain. Its design intent is to lower transaction costs and improve processing capabilities while leveraging Ethereum’s security features.

Market Movements

On the same day as this announcement, BMNR’s shares declined by 3%, coinciding with a 2% slip in Ethereum’s price over the previous 24 hours, bringing it down to approximately $1,769.