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The last purchase of Bitmine occurred exactly one week after the Ethereum Foundation sold another tranche of 10,000 $ETH, valued at around $24,000,000 at the time. The foundation again stated that the funds would be used for "core operations and activities, including protocol research and development, ecosystem growth, grant funding for the community, and much more."
In this latest deal, Bitmine paid an average of $2,292.15 per $ETH.
According to the analytical platform Lookonchain, the largest digital asset fund based on Ethereum sold approximately $47,000,000 worth of $ETH to Bitmine over the week and also began staking another 162,088 $ETH on Thursday. As a result, the total amount of $ETH staked in Bitmine reached 4,194,029 $ETH, worth about $9,500,000,000, accounting for 83% of the company's total assets.
According to The Block Price Page, on Friday, the price of Ethereum increased by more than 2%, reaching $2,309.80 as of 14:26 Eastern Time. Bitmine acquired $ETH from the Ethereum Foundation through over-the-counter deals.