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 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, ecosystem development, and grant initiatives.
This acquisition is part of Bitmine's strategy to accumulate ether on a large scale, with the company having purchased over 100,000 ether last week, bringing its total holdings to 4.97 million ETH. Bitmine'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. The firm's long-term goal is to acquire 5% of the total ETH supply, equivalent to approximately 6 million tokens.