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 $23.87 million over-the-counter transaction was confirmed 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 various operational activities, including research, ecosystem development, and grants. This move is part of Bitmine's ongoing effort to accumulate ether, with the company having purchased over 100,000 ether last week.
Its current holdings stand at 4.97 million ETH, valued at $12.9 billion, making Bitmine the largest public holder of ether and the second-largest public digital asset treasury. The company aims to acquire 5% of ETH's total supply, equivalent to around 6 million tokens.