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 ETH currently trading at approximately $2,310, the sale price represents a 3% premium. The Ethereum Foundation will utilize the proceeds to support ongoing operations, including research into the protocol, ecosystem development, and grant initiatives.
This move is part of Bitmine's broader strategy to accumulate ether on a large scale, with the company having purchased over 100,000 ether the previous week. As of its latest report, Bitmine holds 4.97 million ETH, totaling $12.9 billion in assets, making it the largest public holder of ether and the second-largest digital asset treasury. The company's long-term goal is to acquire 5% of ETH's total supply, equivalent to around 6 million tokens.