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, ecosystem development, and grant programs. Notably, the current ETH price is approximately $2,310, which is 3% lower than the transaction price. Bitmine, led by Thomas Lee, has been actively accumulating ether, with a recent purchase of over 100,000 ether, 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. Bitmine's long-term goal is to acquire 5% of the total ETH supply, equivalent to around 6 million tokens.