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 off-market transaction, valued at $23.87 million, was finalized on Friday.
With ether currently trading at approximately $2,310, the sale price is about 3% higher than the current market value. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research into the protocol, ecosystem development, and grant allocations. This move marks a significant development in Bitmine's ongoing efforts to accumulate ether, with the company having purchased over 100,000 ether the previous week.
As of its latest report, Bitmine holds 4.97 million ether, with total assets amounting to $12.9 billion, making it the largest public holder of ether and the second-largest public digital asset treasury. Bitmine's strategic goal is to accumulate 5% of Ethereum's total supply, equivalent to approximately 6 million tokens.