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. The Ethereum Foundation will utilize the proceeds to support various operational activities, including research into the protocol, development of the ecosystem, and the provision of grants. Currently, ether is trading at approximately $2,310, which is 3% lower than the transaction price.
This move is part of Bitmine's ongoing effort to accumulate ether on a large scale, with the company having purchased over 100,000 ether the previous week. This brings its total holdings to 4.97 million ether, with total assets amounting to $12.9 billion, making it the largest public holder of ether and the second-largest public digital asset treasury.
Bitmine's long-term goal is to acquire 5% of the total ether supply, equivalent to around 6 million tokens.