Bitmine Immersion Technologies has announced the acquisition of 10,000 ether from the Ethereum Foundation, further solidifying its position as a leading digital asset treasury firm. The over-the-counter transaction, valued at $23.87 million, was finalized on Friday.
With ETH currently trading at approximately $2,310, the sale price represents a 3% premium. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research, ecosystem development, and grant initiatives.
This move is part of Bitmine's ongoing effort to accumulate ether, having recently purchased over 100,000 ETH and bringing its total holdings to 4.97 million. The company's total assets now stand at $12.9 billion, making it the largest public holder of ether and the second-largest digital asset treasury. Bitmine aims to hold 5% of the total ETH supply, equivalent to approximately 6 million tokens.