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. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research into the protocol, ecosystem development, and grant allocations.
Notably, the current ETH price of around $2,310 is slightly lower than the transaction price. Bitmine continues to aggressively accumulate ether, having acquired over 100,000 units the previous week, which brings its total holdings to 4.97 million ETH, as reported on Monday. With total assets of $12.9 billion, Bitmine is now the largest public holder of ether and the second-largest public digital asset treasury. The company's long-term objective is to hold 5% of the total ETH supply, equivalent to approximately 6 million tokens.