BitMine Buys $49M in Ethereum as Robinhood Chain Sees Early Demand

BitMine has purchased $49 million worth of Ethereum, citing the early success of Robinhood Chain, a layer-2 network built on the Ethereum blockchain. BitMine Chairman Tom Lee credited Robinhood Chain's strong early demand as a key driver of Ethereum's value. The move reflects growing institutional confidence in the ETH ecosystem.