Ethereum Foundation Sells ETH to BitMine Amidst Growing Whale Interest
- The Ethereum Foundation sold 5,000 ETH to BitMine Immersion Technologies for $10.2 million.
- The sale price averaged $2,042.96 per ETH, with proceeds supporting protocol research and development.
- BitMine holds over 4.53 million ETH, approximately 3.7% of Ethereum’s circulating supply.
- A whale wallet ‘0x8E34’ accumulated over $13 million in ETH, showing an unrealized profit of $980,000.
- Another whale spent $24.79 million on acquiring nearly twelve thousand ETH at an average price of about $2,068 per token.
The Ethereum Foundation’s recent sale to BitMine reflects strategic treasury management while indicating rising institutional interest in accumulating Ethereum at current price levels.
