The Ethereum Foundation has sold 5,000 ETH to Bitmine via an over-the-counter transaction at an average price of $2,042.96 per token, according to an announcement posted on X (formerly Twitter).
The sale, valued at approximately $10.2 million, represents a direct transfer between the foundation and the mining-focused entity outside traditional exchange channels. OTC transactions of this scale typically indicate negotiated deals between institutional parties seeking to move large positions without immediate market impact.
The transaction underscores ongoing institutional activity in Ethereum's ecosystem as the foundation manages its treasury assets. The specific pricing and counterparty selection suggest a strategic placement rather than a market liquidation, though the exact timing and context for the sale were not disclosed in the foundation's statement.