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. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research into the protocol, development of the ecosystem, and the provision of grants. Notably, the current trading price of ether is approximately $2,310, marking a 3% decrease from the transaction price.
Bitmine's purchase is part of its ongoing effort to accumulate ether, with the company having acquired over 100,000 ether the previous week. This brings its total holdings to 4.97 million ether, with a total asset value of $12.9 billion, making it 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 around 6 million tokens.