Bitmine grows treasury to 5.78M ETH as Ether outpaces BitcoinThe Ethereum treasury firm added 7,430 ETH over the past week, bringing its holdings to nearly 5% of the network’s circulating supply.
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Bitmine, a leading Ethereum treasury company, announced that it has increased its Ether holdings to approximately 5.78 million tokens, amounting to about 4.8% of Ethereum’s circulating supply. Over the past week, Bitmine added 7,430 ETH to its treasury, with about 85% of its holdings currently staked through its validator network and partners. Bitmine valued its combined assets—including cryptocurrencies, cash, and marketable securities—at $11.5 billion, which includes 207 Bitcoin and $385 million in cash and securities. The company also repurchased 5.5 million shares recently under a $4 billion buyback program.
This development coincides with Ethereum outperforming Bitcoin in recent performance metrics. Ethereum’s price increased by around 6.7% over the past week and 10% over the past month, compared with Bitcoin’s gains of roughly 5.8% and 2.6%, respectively. Meanwhile, Strategy, the world’s largest corporate Bitcoin holder, paused further Bitcoin purchases to build cash reserves, underscoring a divergence in institutional behavior toward these two assets.
Adding to Ethereum’s momentum, Robinhood recently launched Robinhood Chain, an Ethereum layer-2 network built on Arbitrum for tokenized stocks. Within its first two weeks, more than $141 million in bridged Ether was attracted, indicating growing institutional interest in Ethereum’s scaling solutions. Analysts from institutions like Bitwise and ARK Invest discussed its significance for Ethereum’s ecosystem and valuation, though opinions vary on whether such developments strengthen ETH’s standing as a monetary asset or highlight challenges in generating layer-2 fee revenue.
Bernstein analysts have also raised the price target for Robinhood shares, citing the company’s growth prospects tied to tokenized equities and prediction markets enabled by Robinhood Chain. Since the chain’s launch on July 1, the price of Ether has risen about 20%, moving from around $1,582 to approximately $1,900. Cointelegraph emphasizes that this reporting is part of its commitment to independent, fact-based journalism and encourages readers to verify information independently.