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. The sale cleared at an average price of $2,042.96 per ETH, the Foundation said. The proceeds will support EF’s core operations, including protocol research and development and ecosystem grants, as part of a treasury strategy to balance ETH and fiat-like assets.
BitMine, the largest publicly traded ether treasury firm holding around 4.53 million ETH, was the counterparty in the deal. The transaction follows the EF’s recent decision to stake up to 70,000 ETH to support its operations. BitMine is led by Fundstrat’s Tom Lee and maintains a portfolio that is almost entirely ether, with additional BTC, cash, and equity stakes.
The Ethereum Foundation completed an over-the-counter sale of 5,000 ETH to BitMine Immersion Technologies for approximately $10.2 million. The sale cleared at an average price of $2,042.96 per ETH, the Foundation said. The proceeds will support EF’s core operations, including protocol research and development and ecosystem grants, as part of a treasury-balancing strategy.
BitMine Immersion Technologies is the counterparty, holding around 4.53 million ETH. The firm is led by Fundstrat’s Tom Lee and maintains a portfolio that is almost entirely ether, with additional BTC, cash, and equity stakes. The transaction follows EF’s recent decision to stake up to 70,000 ETH to support its operations, reflecting ongoing treasury management to balance ETH and fiat-like assets.
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