Lee outlined the discrete success of the launch of the Robinhood Chain L2 mainnet, built on Arbitrum.
Bitmine Immersion Technologies, the former Bitcoin miner turned massive Ethereum pool, continues to increase its exposure to altcoins by picking up another 30,567 tokens over the past week.
Its total has risen to 5.77 million coins, and the latest purchase reinforces its position as the largest holder of Ethereum in the world.
Coming to supply 5%
The company has long stated that its mission is to accumulate and control 5% of the total supply of Ethereum. With its latest acquisition, it has moved closer to that goal as it now controls more than 4.8% of the project’s circulating supply of 120.7 million coins.
The company’s president, Tom Lee, remains very optimistic about ETH’s long-term future, arguing that two structural trends continue to support the asset: rising tokenization of traditional financial assets and increasing demand for blockchain infrastructure from AI-powered applications.
he He added Regulatory developments such as the long-awaited CLARITY Act could further accelerate institutional adoption of smart contract platforms. Furthermore, he focused on the launch of Robinhood’s new mainnet this month, another Ethereum-related initiative that immediately generated a lot of buzz.
“One of the biggest cryptocurrency success stories in 2026 is the spinoff of the Robinhood Chain L2 mainnet on July 1, built on Arbitrum. Already, dollar trading volumes have surpassed $1 billion, and Robinhood Chain now has more trading volume than any other decentralized exchange (DEX), demonstrating the distinct utility and product market fit of Ethereum, the underlying chain,”
Robinhood Chain uses ETH as a native gas token, and all transaction fees are denominated in the world’s largest altcoin before being settled on Ethereum, he said. This means that Robinhood’s 27 million user base is now paying fees for cryptocurrencies denominated in ETH. In other words, “everyday users are starting to view ETH as money.”
Surveying business is growing
Bitmine continues to deploy its ETH inventory for staking with the company allocating over 4.9 million coins to work through its institutional platform MAVAN. By becoming one of the largest Ethereum validators globally, the company expects approximately $235 million in annual staking revenue.
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It plans to acquire all of its holdings, which would increase this expected amount to approximately $277 million.
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