The ability to selectively measure, initialize, and reuse qubits during a quantum circuit enables a mapping of the spatial structure of certain tensor-network states onto the dynamics of quantum circuits, thereby achieving dramatic resource savings when using a quantum computer to simulate many-body systems with limited entanglement. We experimentally demonstrate a significant benefit of this approach to quantum simulation: In addition to all correlation functions, the entanglement structure of an infinite system -- specifically the half-chain entanglement spectrum -- is conveniently encoded within a small register of bond qubits and can be extracted with relative ease. Using a trapped-ion QCCD quantum computer equipped with selective mid-circuit measurement and reset, we quantitatively determine the near-critical entanglement entropy of a correlated spin chain directly in the thermodynamic limit and show that its phase transition becomes quickly resolved upon expanding the bond-qubit register.