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 acquisition brings Bitmine's ETH holdings closer to its target of 5% of the total ether supply, which is approximately 6 million tokens. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research, ecosystem development, and grants. Notably, Bitmine has been actively accumulating ether, with recent purchases exceeding 100,000 tokens, raising its total ETH holdings to 4.97 million and its overall assets to $12.9 billion.
This makes Bitmine the largest public holder of ether and the second-largest public digital asset treasury.