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 firm. The over-the-counter transaction, valued at $23.87 million, was finalized on Friday. With ether currently trading at approximately $2,310, this purchase price represents a premium of about 3%.
The Ethereum Foundation will utilize the proceeds to support its ongoing operations, including research into the protocol, ecosystem development, and grant initiatives. This move by Bitmine is notable as it continues to expand its ether holdings at a time when many digital asset treasuries have reduced or ceased their buying activities. Recently, Bitmine acquired over 100,000 ether, bringing its total holdings to 4.97 million ether, with its overall assets totaling $12.9 billion. This makes Bitmine the largest public holder of ether and the second-largest public digital asset treasury.
The company's long-term goal is to accumulate 5% of the total ether supply, which would be approximately 6 million tokens.