BitMine scoops up $49 million in Ethereum following Robinhood L2 surge

Ethereum's supply is tightening as institutional players bet big on the network's latest scaling wins. BitMine just dropped $49 million on ETH, a move Chairman Tom Lee links directly to the traction seen on the new Robinhood Chain layer-2 network. It's a classic case of infrastructure demand driving the underlying asset's value. While retail traders often focus on meme coins, Lee is watching the plumbing. He notes that early demand for Robinhood's specific scaling solution is already funneling significant activity back to the mainnet. This $49 million purchase isn't just a random treasury hedge; it's a vote of confidence in how Robinhood's massive user base interacts with the Ethereum ecosystem. Layer-2 networks were designed to make transactions cheaper, but they're proving to be the primary engine for institutional accumulation. If more brokerage giants follow this blueprint, how long will the current ETH supply last?