Ethereum Foundation "finds buyers for its coins"! Bitmine sweeps 10,000 ETH in OTC deal

ORIGINAL以太坊基金會「賣幣有人接」！Bitmine 掃 1 萬枚以太幣場外成交

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While most institutions remain on the sidelines regarding cryptocurrencies, a large over-the-counter (OTC) transaction has reignited market attention. Bitmine Immersion Technologies (Ticker: BMNR) announced that it will purchase 10,000 ETH from the Ethereum Foundation for approximately $23.87 million. The Ethereum Foundation confirmed via the social media platform X that it has reached an OTC agreement with Bitmine to sell 10,000 ETH at a price of $2,387 per coin. 0/ Today, the Ethereum Foundation finalized the terms of a 10,000 ETH sale at an average price of $2,387 via OTC. For this sale, our OTC counterparts was @BitMNR. — Ethereum Foundation (@ethereumfndn) April 24, 2026 Regarding the use of these funds, the Ethereum Foundation stated that the proceeds from the ETH sale will be used entirely to support the foundation's daily operations, covering protocol research and development, ecosystem growth, and community grant programs. In fact, the timing of this transaction is quite intriguing. Over the past few months, as the cryptocurrency market has entered a period of volatility, the vast majority of digital asset reserve companies have slowed down or even completely halted their coin purchases. However, Bitmine has continued to sweep up large quantities in the market. As of last Monday, Bitmine's ETH holdings reached 4.97 million, valued at $12.9 billion, making it the world's largest publicly traded holder of ETH and the second-largest among publicly traded cryptocurrency reserve companies. Bitmine has previously stated publicly that its goal is to accumulate approximately 5% of the total ETH supply, equivalent to about 6 million ETH. In the past, the Ethereum Foundation has often been criticized for frequently selling ETH to maintain operations. In response, the foundation announced a new financial strategy last year, stating that it would readjust its capital allocation and usage, deposit assets into DeFi protocols to earn yield, and initiate expenditure control plans. CoinGecko data shows that the current trading price of ETH is $2,327, down 0.1% over the past 24 hours.

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