Ethereum Foundation Sells 5,000 ETH to BitMine

[madmax]

On March 14, the Ethereum Foundation completed the sale of 5,000 ETH to BitMine via an over-the-counter transaction at an average price of $2,042.96. The sale aims to fund core operations, including protocol research and development.

The choice of BitMine as the buyer has sparked scrutiny. BitMine is the largest corporate holder of Ethereum, controlling over 4.47 million tokens and pursuing roughly 5% of the circulating supply. Critics note that such concentration in a single entity challenges the Foundation’s historical emphasis on decentralization and anti-monopoly principles.

Following the sale, the Foundation now holds just over 200,000 ETH (~$424 million) and continues to strategically manage its treasury to support ecosystem development.

[mendez]

bitmine being the largest corporate holder is wild. they have more eth than i have brain cells, which admittedly isnt saying much

[The_Walking_Dead]

5,000 ETH OTC deals are no small move.

[bred]

Funding development while avoiding market dumps makes sense.

[Capybara_Capybara]

BitMine stacking ETH like crazy.

[059d96d16a]

OTC sales keep things quieter for the market.

[9777089235]

Ethereum treasury management is interesting to watch.

[Revenant]

Big players accumulating ETH behind the scenes.

[d82ae58262]

Crypto foundations basically running like tech treasuries now.

[UndeadBeastMonkeykiller]

Quiet deals often matter more than loud headlines.

[GummyBear]

Ethereum Foundation completed the sale of 5,000 ETH