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. With ether currently trading at approximately $2,310, this sale price represents a slight premium. The Ethereum Foundation will utilize the proceeds to support various initiatives, including protocol research, ecosystem development, and grants.
This acquisition is part of Bitmine's ongoing effort to accumulate ether, with the company having purchased over 100,000 ether the previous week. As of its latest report, Bitmine's holdings stand at 4.97 million ether, with total assets reaching $12.9 billion.
The company aims to hold 5% of the total ether supply, equivalent to around 6 million tokens.