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 is part of Bitmine's ongoing effort to accumulate ether, with the company having bought over 100,000 ether last week, bringing its total holdings to 4.97 million ether. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research, ecosystem development, and grant programs. With a current total asset value of $12.9 billion, Bitmine is now the largest public holder of ether and the second-largest public digital asset treasury.
The company aims to acquire 5% of the total ether supply, equivalent to approximately 6 million tokens.