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 sale price represents a slight premium. The Ethereum Foundation will utilize the proceeds to support 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 having acquired 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 digital asset treasury. Bitmine's long-term objective is to hold 5% of the total ether supply, equivalent to about 6 million tokens.