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 $23.87 million transaction was finalized in an over-the-counter deal. With ETH currently trading at approximately $2,310, the sale price is about 3% higher than the current market value.
The Ethereum Foundation will use the proceeds to fund its operational activities, including research into the protocol, ecosystem development, and grant allocations. This move is part of Bitmine's ongoing effort to accumulate ether, with the company aiming to hold 5% of the total ETH supply, equivalent to around 6 million tokens.
Recently, Bitmine acquired over 100,000 ether, bringing its total holdings to 4.97 million ETH, with total assets valued at $12.9 billion, making it the largest public holder of ether and the second-largest public digital asset treasury.