Bitmine Immersion Technologies to Acquire 10,000 Ether from Ethereum Foundation
- Bitmine Immersion Technologies (BMNR) is purchasing 10,000 ether (ETH) for $23.87 million.
- The transaction was finalized on Friday and ETH is currently trading around $2,310.
- This purchase increases Bitmine’s total holdings to approximately 4.97 million ETH.
- Bitmine aims to accumulate about 5% of ETH’s supply, equating to roughly six million tokens.
- The Ethereum Foundation will use the proceeds for operations including protocol research and ecosystem development.
This acquisition positions Bitmine as a leading digital asset treasury firm, following its recent purchase of over 100,000 ETH. The firm’s total assets now stand at $12.9 billion, solidifying its status in the market.
With this latest purchase of 10,000 ETH, Bitmine continues to expand its holdings significantly amid a broader slowdown in digital asset acquisitions by other firms.
