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 is part of Bitmine's ongoing effort to accumulate ether, with the company having acquired over 100,000 ether last week, bringing its total holdings to 4.97 million ETH, as reported on Monday. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research, ecosystem development, and grant programs.
Notably, the transaction price of $2,387 per ether is slightly higher than the current market price of around $2,310. Bitmine, led by Thomas Lee, aims to hold 5% of the total ETH supply, equivalent to approximately 6 million tokens. This recent acquisition marks a significant step towards achieving this objective, with the company's total assets now standing at $12.9 billion, making it the largest public holder of ether and the second-largest public digital asset treasury.