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, this purchase price represents a slight premium. The Ethereum Foundation will utilize the proceeds to support ongoing operations, including research into the protocol, ecosystem development, and grant initiatives.
This move is part of Bitmine's continued efforts to accumulate ether, with the company recently purchasing over 100,000 ether, 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's long-term goal is to hold 5% of the total ether supply, equivalent to approximately 6 million tokens.