Arbitrum

Robinhood

Bitcoin

Top Ethereum treasury company Bitmine said Monday its Ether holdings had reached 5.78 million tokens, representing about 4.8% of Ethereum’s circulating supply, as the company closed in on its stated goal of accumulating 5% of all ETH.
According to Monday’s announcement, the company added&nbsp;7,430 ETH (ETH)&nbsp;over the past week. About&nbsp;4.9 million ETH, or roughly&nbsp;85%&nbsp;of its treasury, is currently staked through its validator network and partners.
Bitmine valued its crypto, cash and marketable securities at $11.5 billion, including 207 Bitcoin and $385 million in cash and securities. The company also repurchased 5.5 million shares during the week under its previously authorized $4 billion buyback program.
Earlier this month, BitMine said its institutional staking platform, MAVAN, generated $45.7 million in <a href="https://cointelegraph.com/news/bitmine-generated-46m-from-ethereum-staking-last-quarter" rel="noopener noreferrer nofollow">staking and validation revenue</a> during the three-month period ended May 31, accounting for 98% of the company’s total revenue.
BitMine shares were up more than 6% in Monday afternoon trading, bringing their one-month gain to around 3.3%.<img alt="" height="931" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-07-20-at-113136-am.png" width="1761">
Source: <a href="https://finance.yahoo.com/quote/BMNR/" rel="noopener noreferrer nofollow">Yahoo Finance</a>
Related: <a href="https://cointelegraph.com/news/bitmine-ether-treasury-chances-clarity-act" rel="noopener noreferrer nofollow">Bitmine announces $74M Ether buys as chair says ‘greater chances of Clarity Act passage’</a>
<h2 id="ethereum-gains-momentum-strategy-builds-cash">Ethereum gains momentum, Strategy builds cash</h2>
The announcement comes after the world’s largest corporate Bitcoin holder Strategy paused Bitcoin (BTC) purchases for a <a href="https://cointelegraph.com/news/strategy-263-5-million-mstr-raise-holds-843775-bitcoin" rel="noopener noreferrer nofollow">second straight week</a>, instead raising capital through stock sales and growing its cash reserve to more than $3.2 billion.
Ethereum (ETH) has also outperformed Bitcoin over both the past week and month. It has gained about 6.7% over the past seven days and 10% over the past month, compared with gains of roughly 5.8% and 2.6%, respectively, for Bitcoin (BTC), according to CoinGecko data at the time of writing.<img alt="" height="1272" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-07-20-at-110527-am.png" width="2834">
Source: <a href="https://www.coingecko.com/en/coins/ethereum?chart=type%3Dprice%26mode%3Dline%26timeframe%3Dd7" rel="noopener noreferrer nofollow">CoinGecko</a>
<h2 id="robinhood-chain-fuels-optimism-around-ethereum">Robinhood Chain fuels optimism around Ethereum</h2>
Earlier this month, <a href="https://cointelegraph.com/magazine/has-robinhoods-layer-2-given-eth-a-new-bull-case" rel="noopener noreferrer nofollow">Robinhood launched Robinhood Chain</a>,&nbsp;an Ethereum layer-2 network built on Arbitrum for tokenized stocks.
During its first two weeks, the blockchain attracted more than $141 million in bridged Ether and reignited debate over whether institutional adoption of Ethereum’s scaling networks ultimately drives demand for ETH.
Max Shannon, senior research analyst at Bitwise,&nbsp;told Cointelegraph Robinhood Chain reflects the “growth of the Ethereum ecosystem,” particularly among traditional financial institutions.&nbsp;
Whether that institutional growth ultimately strengthens ETH remains an open question. ARK Invest’s Lorenzo Valente argued Robinhood Chain supports the bullish case for ETH as the ecosystem’s monetary asset, but weakens the investment thesis that Ethereum derives significant value from layer-2 fee revenue.
Bernstein analysts on Monday <a href="https://cointelegraph.com/news/bernstein-raises-robinhood-price-target-cites-tokenization-and-prediction-markets" rel="noopener noreferrer nofollow">raised their price target on Robinhood</a>, to $160 from $130 per share, based on their investment thesis that the online brokerage’s next phase of growth will be driven by tokenized equities and prediction markets rather than traditional crypto trading.
The firm highlighted Robinhood Chain as its proprietary infrastructure for tokenized real-world assets, enabling the platform to build on-chain financial products without relying on third-party blockchains.
The price of ETH has climbed about 20% from roughly $1,582 on July 1, when the chain launched, to around $1,900 at the time of writing.
Magazine: <a href="https://cointelegraph.com/magazine/from-dot-com-bust-to-bitcoin-king-has-michael-saylor-rewritten-his-legacy" rel="noopener noreferrer nofollow">Strategy became a symbol of the dot-com crash: Could history repeat?</a>

Bitmine grows treasury to 5.78M ETH as Ether outpaces Bitcoin

Table of Contents

Cointelegraph

Other articles published on Jul 20, 2026

Join our free newsletter for daily crypto updates!