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, the 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. This move by Bitmine is part of its ongoing strategy to accumulate ether, with the company having purchased over 100,000 ether the previous week, bringing its total holdings to 4.97 million ether, as reported on Monday. Bitmine's total assets now stand at $12.9 billion, cementing its status as the largest public holder of ether and the second-largest public digital asset treasury.
The company aims to hold 5% of the total ether supply, equivalent to around 6 million tokens.