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. This purchase brings the company's ether holdings closer to its target of 5% of the total ETH supply. The Ethereum Foundation will use the proceeds to support its operational activities, including research, ecosystem development, and grant programs.
Notably, the transaction occurred at a time when most digital asset treasuries have slowed down their purchasing activities. Bitmine, led by Thomas Lee, has been actively accumulating ether, with over 100,000 tokens purchased last week, bringing its total holdings to 4.97 million ETH.
The company's total assets now stand at $12.9 billion, making it the largest public holder of ether and the second-largest public digital asset treasury.