BitMine Immersion (BMNR) added to its Ethereum treasury last week, bringing its total holdings to 5.77 million ether ($ETH), or about 4.8% of Ethereum's circulating supply of 120.7 million tokens, according to a Monday press release.
The company said nearly five million of its $ETH holdings are staked, allowing it to earn staking rewards while maintaining one of the largest corporate Ethereum treasuries.
Beyond ether, BitMine's balance sheet includes 206 bitcoin BTC$63,015.88, a $180 million stake in Beast Industries, a $69 million stake in Eightco Holdings (ORBS) and about $482 million in cash and marketable securities.
Chairman Tom Lee pointed to growing activity on Ethereum's layer-2 networks as a key reason for the company's continued focus on $ETH.
"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," Lee said in the release. "Already, dollar volumes have exceeded $1 billion, and Robinhood Chain now has more trading volume than any other decentralized exchange (DEX), demonstrating the outstanding utility and product market fit for Ethereum, which is the underlying chain."
Robinhood Chain is a layer-2 network built with Arbitrum (ARB) technology that processes transactions off Ethereum before settling them on the main blockchain. The design aims to lower costs and increase transaction capacity while relying on Ethereum for security.
BMNR is down 3% Monday as $ETH slips 2% over the past 24 hours to $1,769.