Bitmine Immersion Technologies (BMNR) purchased 10,000 ether (ETH) from the Ethereum Foundation for approximately $23.87 million. The over-the-counter transaction was executed on April 24, 2026. The average purchase price of $2,387 per token represented a slight premium over market rates.
The acquisition increases Bitmine’s total holdings to 4.97 million ETH. The company’s cryptocurrency treasury is now valued at roughly $12.9 billion. Bitmine remains the largest public holder of ether.
The Ethereum Foundation will use the proceeds to fund core operations and ecosystem grants. Bitmine has set a long-term goal to acquire 5% of the total circulating ETH supply. This aggressive accumulation reflects a high conviction in Ethereum’s value relative to other digital asset treasuries.