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.
This purchase brings Bitmine's ether holdings closer to its target of 5% of the total ETH supply, which is approximately 6 million tokens. The Ethereum Foundation will utilize the proceeds to support ongoing operations, including research, ecosystem development, and grant programs. Notably, Bitmine has continued to accumulate ether at scale, unlike many other digital asset treasuries that have slowed or halted their purchasing activities in recent months.
With this acquisition, Bitmine's ether holdings now stand at 4.97 million ETH, with total assets valued at $12.9 billion, making it the largest public holder of ether and the second-largest public digital asset treasury.