Ethereum Foundation Sells 5,000 ETH to Bitmine

Ethereum Foundation Sells 5,000 ETH to Bitmine for Operational Funding

• The Ethereum Foundation completed an OTC sale of 5,000 ETH to Bitmine at an average price of $2,042.96.
• The transaction aims to fund protocol research, ecosystem growth initiatives, and community grant programs.
• The Foundation retains approximately 170,000 ETH valued at about $356 million and plans to stake around 70,000 ETH in total.
• Bitmine has accumulated over 4.5 million ETH since June, valued at $9.5 billion.
• Over 3 million ETH is staked, generating annualized revenues of approximately $174 million with potential growth through the MAVAN validator network.

The Ethereum Foundation’s sale of 5,000 ETH to Bitmine supports its ongoing projects while maintaining a significant treasury holding for future staking activities.