Ethereum Foundation Sells Another $23 Million in ETH
- The Ethereum Foundation sold approximately $23 million worth of ETH to BitMine Immersion Technologies.
- This marks the second consecutive weekly sale of 10,000 ETH to BitMine, a leading Ethereum treasury company.
- BitMine currently holds over five million ETH, valued at more than $11.7 billion.
- The recent transaction was completed at an average price of $2,292 per ETH.
- Earlier this week, BitMine disclosed its largest Bitcoin purchase of the year, acquiring about $235 million worth of ETH.
The Ethereum Foundation’s latest sale to BitMine Immersion Technologies supports its core operations and activities such as protocol research and ecosystem development. This strategic move follows a similar transaction last week and another earlier this year, demonstrating ongoing collaboration between these entities.
Despite the significant holdings, BitMine faces an unrealized loss exceeding $6.3 billion due to declining Ethereum prices since their peak last summer. (Source)
