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 ETH currently trading at approximately $2,310, this sale price represents a slight premium. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research, ecosystem development, and grant allocations.
Notably, Bitmine continues to aggressively accumulate ether, having acquired over 100,000 tokens the previous week, bringing its total holdings to 4.97 million ETH, as reported on Monday. This translates to a total asset value of $12.9 billion, cementing Bitmine's status as the largest public holder of ether and the second-largest public digital asset treasury. The company's long-term objective is to amass 5% of the total ETH supply, equivalent to roughly 6 million tokens.