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. With ether currently trading at approximately $2,310, this sale price represents a premium of about 3%. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research into the protocol, ecosystem development, and grant programs.
This move by Bitmine to acquire a significant amount of ether contrasts with the recent slowdown in purchasing activity among most digital asset treasuries. Having acquired over 100,000 ether the previous week, Bitmine's holdings now stand at 4.97 million ether, with total assets of $12.9 billion, making it the largest public holder of ether and the second-largest public digital asset treasury.
Bitmine aims to accumulate 5% of the total ether supply, equivalent to around 6 million tokens, as part of its strategic investment plan.