Lee highlighted the resounding success of the Robinhood Chain L2 mainnet launch, built on Arbitrum.
Bitmine Immersion Technologies, the former Bitcoin miner turned massive Ethereum accumulator, continues to increase its exposure to the altcoin by capturing an additional 30,567 tokens over the past week.
Its total has grown to 5.77 million coins, and the latest purchase solidifies its position as the largest Ethereum holding company in the world.
Coming for 5% supply
The company has long stated that its mission is to accumulate and control 5% of Ethereum’s total supply. With its latest acquisition, it has moved even closer to this goal as it now controls more than 4.8% of the project’s circulating supply, or 120.7 million coins.
The company’s president, Tom Lee, continues to be very optimistic about the long-term future of ETH, saying that two structural trends continue to support the asset: the increasing tokenization of traditional financial assets and the growing demand for blockchain infrastructure from AI-based applications.
He added that regulatory developments such as the highly anticipated CLARITY Act could further accelerate institutional adoption of smart contract platforms. Additionally, he focused this month on the launch of Robinhood’s new mainnet, another Ethereum-related initiative that made an instant splash.
“One of the biggest crypto success stories in 2026 is the breakout 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), demonstrating the exceptional utility and product market fit for Ethereum, which is the underlying chain,” Lee noted.
He said Robinhood Chain uses ETH as its native gas token and all transaction fees are denominated in the world’s largest altcoin before being settled on Ethereum. This means that Robinhood’s 27 million users now pay crypto fees denominated in ETH. In other words, “everyday users are starting to view ETH as money.”
Staking Activity Grows
Bitmine continues to deploy its ETH reserve for staking, as the company has staked over 4.9 million coins through its own MAVAN institutional platform. By becoming one of the largest Ethereum validators in the world, the company expects approximately $235 million in annualized staking revenue.
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He plans to put all of his assets on the line, which would bring that expected amount to around $277 million.
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