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Bitmine Immersion Technologies has added another 25,000 ETH to its treasury, continuing its relentless accumulation strategy that has made it the world's largest publicly-traded Ethereum treasury firm. The latest purchase, executed via a transfer from a BitGo-linked wallet on June 10, was valued at approximately $41 million at current ETH prices near $1,630, bringing Bitmine's total holdings to approximately 5.54 million ETH tokens, representing roughly 4.59% of Ethereum's circulating supply.
This acquisition is part of a broader three-day buying spree in which Bitmine purchased a total of 125,000 ETH, combining multiple transactions as ETH prices struggled below the $1,700 level. The aggressive dip-buying approach reflects Bitmine's confidence in Ethereum's long-term value proposition even amid short-term price weakness. The firm's total crypto and cash holdings now stand at $9.6 billion, comprising 5.54 million ETH, 204 Bitcoin, $180 million stake in Beast Industries, $88 million stake in Eightco Holdings, and $247 million in total cash reserves.
The "Alchemy of 5%" strategy that Bitmine has pursued under Chairman Thomas Lee, known as Tom Lee, targets ownership of 5% of Ethereum's total supply. The firm is now approximately 92% toward that goal, holding 4.59% of circulating supply. Lee signaled at Consensus 2026 in May that the company planned to moderate its accumulation pace as it approached the 5% target, and recent data confirms this shift. Bitmine's latest weekly purchase of 26,497 ETH, worth roughly $53 million, represents a sharp reduction from the 126,971 ETH, worth approximately $214 million, acquired just one week earlier, which was the company's largest single purchase of 2026.
The institutional significance of Bitmine's accumulation extends beyond mere treasury building. As the largest publicly-traded ETH holder, Bitmine has become a proxy for Ethereum exposure among traditional market investors who may not directly hold digital assets. The company's NYSE listing under ticker BMNR provides a regulated equity instrument through which Wall Street can gain indirect ETH exposure, and the recent announcement of Series A Perpetual Preferred Stock with a 9.50% dividend rate, declared at $0.105556 per share weekly, adds a yield dimension that appeals to income-focused investors.
For the Ethereum market itself, Bitmine's persistent buying creates a structural demand floor. Even as ETH prices have faced pressure from broader crypto market volatility and macro headwinds, Bitmine's treasury accumulation absorbs supply and reduces the effective float available for trading. The firm's staking operations on its 5.54 million ETH further reduce circulating supply by locking tokens in validation activities, creating a dual compression effect on available ETH in the market.
The question now is what happens when Bitmine reaches its 5% target. The firm has indicated it will shift from aggressive accumulation to a more moderate approach, which could remove a consistent demand source from the market. However, the transition also signals maturation, moving from growth-phase buying to treasury management and yield generation through staking rewards and preferred stock dividends. Whether Ethereum's price can sustain its current levels without Bitmine's weekly buying pressure remains one of the most consequential questions for the asset's near-term trajectory.
#BitmineAddsAnother25KEther
BITMINE ACCUMULATION MACHINE: 25K ETH TRANSFER SIGNALS UNSTOPPABLE TREASURY STRATEGY
The Ethereum treasury landscape shifted again on June 10 when Bitmine Immersion Technologies transferred 25,000 ETH from a BitGo hot wallet, valued at approximately $41 million at the time. This latest movement adds to an already staggering accumulation campaign that has redefined what it means to hold Ethereum at scale.
The Tom Lee-chaired firm, listed on NYSE American under ticker BMNR, has been on a relentless buying spree throughout 2026. Its most recent major acquisition saw 126,971 ETH purchased in a single week worth roughly $214 million, pushing total holdings to 5.54 million ETH valued around $9.3 billion. Bitmine now controls approximately 4.59% of the total Ethereum supply and is firmly on track to reach its ambitious "Alchemy of 5%" goal, targeting control of more than 5% of all ether in existence.
The strategy has drawn both admiration and scrutiny. With ETH trading around $1,690, down approximately 65% from its August 2025 all-time high, Bitmine sits on an estimated $9.6 billion in paper losses. Yet Lee and the board view the current price environment as an "attractive opportunity," doubling down precisely when others are pulling back. The company also announced initial cash dividends on its 9.50% Series A Perpetual Preferred Stock, with the second weekly dividend of $0.105556 per share payable on June 26 to holders of record as of June 16. The Series A Preferred Stock will also begin trading on the New York Stock Exchange, signaling confidence in the long-term viability of the Ethereum treasury model.
Bitmine's approach mirrors the broader trend of publicly traded companies accumulating digital assets as treasury reserves, but its scale is unprecedented. The firm also holds 197 BTC alongside cash and equity stakes totaling over $11.8 billion in combined assets. Each new transfer, whether 25K or 127K ETH, reinforces a conviction that Ethereum's value proposition extends far beyond short-term price fluctuations.
The question the market continues to debate is whether this concentrated accumulation creates systemic implications for Ethereum's liquidity and price discovery. With over 5.5 million ETH staked and locked, Bitmine's holdings represent a structural force that cannot be easily unwound. As the firm edges closer to its 5% supply target, every incremental purchase moves the needle on what percentage of ETH is effectively taken out of circulating supply.
What remains clear is that Bitmine is not slowing down. The 25K ETH transfer on June 10, the 127K weekly purchase, and the steady progression toward 5% supply dominance all point to a company that has made its bet and is committed to seeing it through regardless of short-term market noise. For Ethereum watchers, every Bitmine transaction is now a market event worth tracking.
#BitmineAddsAnother25KEther