The Ethereum Foundation announced Friday a sale of 10,000 ETH, valued at approximately $24 million, through an over-the-counter transaction with Bitmine. The proceeds are designated for core operations, including research, development, ecosystem expansion, and grant programs, as part of the foundation's treasury management.
This sale follows a similar transaction in March where the Foundation sold 5,000 ETH to Bitmine for similar strategic funding purposes.
The Ethereum Foundation currently holds an estimated 92,538 ETH, valued at roughly $214 million, with a portion of its treasury actively staked.