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.
This acquisition brings Bitmine's total ETH holdings closer to its target of 5% of the total supply, which would be approximately 6 million tokens. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research, ecosystem development, and grants. Notably, Bitmine has been actively accumulating ether, with a recent purchase of over 100,000 tokens, bringing its total holdings to 4.97 million ETH, as reported on Monday.
The company's total assets now stand at $12.9 billion, making it the largest public holder of ether and the second-largest public digital asset treasury.