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 over-the-counter transaction, valued at $23.87 million, was finalized on Friday.
With ether currently trading at approximately $2,310, the sale price represents a slight premium. The Ethereum Foundation will utilize the proceeds to support its operational activities, including research into the protocol, ecosystem development, and grant initiatives. This move by Bitmine comes at a time when many digital asset treasuries have paused or slowed their purchasing activities. Under the leadership of Thomas Lee, Fundstrat's CIO, Bitmine has been actively accumulating ether, having purchased over 100,000 units the previous week.
This brings its total ether holdings to 4.97 million, with overall assets totaling $12.9 billion, making it the largest public holder of ether and the second-largest digital asset treasury. Bitmine's long-term goal is to acquire 5% of the total ether supply, equivalent to around 6 million tokens.