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, this sale price represents a slight premium.
The Ethereum Foundation will utilize the proceeds to support various operational activities, including research, ecosystem development, and grant initiatives. Notably, Bitmine continues to expand its ether holdings, having acquired over 100,000 ether last week, bringing its total to 4.97 million ETH, as reported on Monday. The company's total assets now stand at $12.9 billion, cementing its status as the largest public holder of ether and the second-largest public digital asset treasury.
This strategic move aligns with Bitmine's previously stated objective of accumulating 5% of the total ETH supply, equivalent to roughly 6 million tokens.