BitMine Immersion has expanded its Ethereum treasury to 5.77 million ETH, representing 4.8 percent of the token's circulating supply.
The company added to its holdings last week, according to a Monday press release. Nearly five million of the tokens are staked, and the balance sheet also includes 206 Bitcoin along with stakes in other firms and cash.
Chairman Tom Lee highlighted activity on Ethereum layer-2 networks. He noted that Robinhood Chain, launched July 1 on Arbitrum, has seen dollar volumes exceed $1 billion and now leads all decentralized exchanges in trading volume.
The shares of BitMine Immersion fell 3 percent Monday while Ether traded near $1,769.
