Ethereum Foundation sells 10,000 ETH to BitMine for $22.9M in ongoing treasury management.

The Ethereum Foundation completed its third over-the-counter sale of 10,000 ETH to BitMine Immersion Technologies at an average price of $2,292, totaling about $22.9 million. This transaction is part of the Foundation's treasury management strategy to fund core operations such as R&D, ecosystem development, and community grants. BitMine, chaired by Tom Lee, continues to accumulate large Ethereum holdings, now nearly 5 million ETH, reinforcing its position as the largest Ethereum treasury holder. The Foundation balances ETH sales with staking to maintain liquidity and long-term network alignment.