Ethereum Foundation sells 5,000 ether to BitMine in $10.2 million OTC deal
CoinDesk
The Ethereum Foundation sold 5,000 ETH to BitMine for $10.2 million to fund core operations and balance its treasury.Summary
The Ethereum Foundation (EF) completed an over-the-counter (OTC) sale of 5,000 ETH to BitMine Immersion Technologies (BMNR) for approximately $10.2 million. This sale, averaging $2,042.96 per ETH, is part of the EF’s treasury strategy to balance ETH holdings with fiat-like assets, aiming to cover operating costs and maintain a 2.5-year operating buffer. The funds will support protocol research and development, ecosystem growth, and community grants. BitMine, the largest publicly-traded ether treasury firm with around 4.53 million ETH, was the counterparty in the deal. This transaction follows the EF’s recent decision to stake up to 70,000 ETH, further solidifying its role in the Ethereum ecosystem.
(Source：CoinDesk)