The Ethereum Foundation (EF) completed an over-the-counter sale of 5,000 ether (ETH) to BitMine Immersion Technologies (BMNR) for approximately $10.2 million.
The transaction, executed at an average price of $2,042.96 per ETH, supports EF’s core operations, including protocol research and development, and ecosystem grants. The move aligns with the foundation’s treasury strategy to balance ETH holdings with fiat-like assets.
BitMine, led by Tom Lee, is the largest publicly traded ether treasury firm, holding around 4.53 million ETH. The sale follows EF’s recent decision to stake up to 70,000 ETH to support long-term ecosystem growth.