Bitmine Immersion Technologies has announced the purchase 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 ether currently trading at approximately $2,310, this purchase is slightly above the current market price.
The Ethereum Foundation will use the proceeds to support its operational activities, including research, ecosystem development, and grant programs. This move by Bitmine is part of its ongoing effort to accumulate ether, with the company having acquired over 100,000 ether last week, bringing its total holdings to 4.97 million ether, as reported on Monday. Bitmine's total assets now stand at $12.9 billion, making it the largest public holder of ether and the second-largest public digital asset treasury. The company's ultimate goal is to hold 5% of the total ether supply, which translates to around 6 million tokens.