Bitmine Snaps Up Over 30,500 ETH as Tom Lee Focuses on Crypto’s New Success Story
Bitmine Immersion Technologies, the previous bitcoin miner turned huge Ethereum accumulator, continues to extend its altcoin publicity by snapping one other 30,567 tokens over the previous week.
Its whole has grown to five.77 million cash, and the newest buy cements its place as the world’s largest company holder of Ethereum.
Coming for five% Supply
The firm has lengthy acknowledged that its mission is to build up and management 5% of Ethereum’s whole provide. With its newest acquisition, it has additional neared that objective as it now controls over 4.8% of the undertaking’s circulating provide of 120.7 million cash.
The agency’s chairman, Tom Lee, continues to be extremely bullish on ETH’s long-term future, arguing that two structural developments hold supporting the asset: the rising tokenization of conventional monetary belongings and rising demand for blockchain infrastructure from AI-powered purposes.
He added that regulatory developments such as the extremely anticipated CLARITY Act may additional speed up institutional adoption of sensible contract platforms. Moreover, he centered on Robinhood’s new mainnet launch this month, which is one other Ethereum-related initiative that turned an prompt sensation.
“One of the most important crypto success tales in 2026 is the breakaway success of the Robinhood Chain L2 mainnet on July 1, constructed on Arbitrum. Already, greenback volumes have exceeded $1 billion, and Robinhood Chain now has extra buying and selling quantity than another decentralized change (DEX), demonstrating the excellent utility and product market match for Ethereum, which is the underlying chain,” famous Lee.
He mentioned Robinhood Chain makes use of ETH as the native fuel token, and all transaction charges are denominated on this planet’s largest altcoin earlier than being settled on Ethereum. This implies that Robinhood’s 27 million person base is now paying crypto charges denominated in ETH. In different phrases, “on a regular basis customers are beginning to see ETH as cash.”
Staking Business Grows
Bitmine continues to deploy its ETH stash for staking as the agency has put over 4.9 million cash to work by means of its personal institutional platform MAVAN. By changing into one of many largest Ethereum validators globally, the corporate tasks roughly $235 million in annualized staking income.
It plans to stake all of its holdings, which might enhance that anticipated quantity to roughly $277 million.
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