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, the sale price is about 3% higher than the current market value.
The Ethereum Foundation will utilize the proceeds to support its operational activities, including research, ecosystem development, and grant programs. This acquisition 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.
As of its latest report, Bitmine's holdings stand at 4.97 million ETH, with total assets of $12.9 billion, making it the largest public holder of ether and the second-largest public digital asset treasury. The company aims to hold 5% of ETH's total supply, equivalent to around 6 million tokens.