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. The over-the-counter transaction, valued at $23.87 million, was confirmed on Friday. With ether currently trading at approximately $2,310, the sale price represents a slight premium. The Ethereum Foundation will utilize the proceeds to support ongoing operations, including research into the protocol, ecosystem development, and grant programs.
This move by Bitmine reflects its continued strategy of accumulating ether on a large scale, contrasting with the slowdown in purchases by other digital asset treasuries in recent months. Under the leadership of Thomas Lee, Fundstrat's CIO, Bitmine has been actively expanding its ether holdings, having purchased over 100,000 ether the previous week. This brings its total ether holdings to 4.97 million, with overall assets valued at $12.9 billion, cementing its position as the largest public holder of ether and the second-largest public digital asset treasury.
Bitmine's long-term goal is to accumulate 5% of the total ether supply, equivalent to approximately 6 million tokens, as previously stated.