Ethereum Foundation has sold 5,000 ETH (approximately $10.2 million) to Bitmine through an over-the-counter transaction at an average price of $2,042.96 per token, the foundation announced via X (formerly Twitter).
The sale proceeds will be allocated toward funding core operations including protocol research and development, ecosystem expansion, community grants, and other strategic foundation initiatives. The transaction represents a deliberate capital deployment strategy by the nonprofit organization tasked with advancing Ethereum's technical infrastructure and developer ecosystem.
This OTC sale underscores institutional appetite for large Ethereum holdings and reflects the foundation's periodic token management practices to support its operational mandate. The pricing suggests orderly market conditions for substantial ETH blocks outside traditional exchange channels.