Ethereum Foundation Offloads $23M in ETH to BitMine for Third Time in Two Months
Cointelegraph
The Ethereum Foundation sold 10,000 ETH to BitMine for $22.9 million, marking its third major OTC transaction in two months.Summary
The Ethereum Foundation has executed a third over-the-counter sale of 10,000 ETH to BitMine Immersion Technologies, generating approximately $22.9 million to support core operations, including research and development and ecosystem grants. This follows two previous sales, totaling roughly $47 million in recent weeks. The move has sparked criticism from community members questioning the frequency and necessity of the large liquidations. Meanwhile, BitMine continues to expand its holdings, now managing nearly 5 million ETH, with a significant majority of its assets currently staked.
(Source：Cointelegraph)