Ethereum Foundation sells 5,000 ether to BitMine in $10.2 million OTC deal

The Ethereum Foundation completed an over-the-counter sale of 5,000 ether to BitMine Immersion Technologies for roughly $10.2 million, clearing at an average price of $2,042.96 per ETH. The funds will support the foundation’s core operations, including protocol research and development, ecosystem growth and community grants.

The transaction fits the reserve-management framework that seeks to balance ETH holdings with fiat-like assets to cover operating costs. Under that policy, the foundation aims to keep annual operating expenses near 15% of treasury value and maintain a 2.5-year operating buffer, a strategy that guides how often it sells ETH.

The sale follows the foundation’s recent move to stake up to 70,000 ETH. BitMine, led by Tom Lee, is the largest publicly traded ether treasury firm and holds about 4.53 million ETH, worth more than $9.4 billion.

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