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. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research, ecosystem development, and grant programs. Notably, the transaction occurred at a price slightly higher than the current market value of ETH, which is approximately $2,310.
Bitmine, led by Thomas Lee, has been actively accumulating ether, with a recent purchase of over 100,000 tokens, bringing its total holdings to 4.97 million ETH. This is part of the company's broader strategy to acquire 5% of the total ETH supply, equivalent to around 6 million tokens. The acquisition underscores Bitmine's commitment to expanding its digital asset treasury, which now stands at $12.9 billion, making it the largest public holder of ether and the second-largest public digital asset treasury.