According to The Block, the Ethereum Foundation sold another 10,000 ETH valued at roughly $23 million to Tom Lee’s Bitmine Immersion Technologies on Friday. This latest transaction brings the total ETH sold to Bitmine to approximately $47 million within a week, with an average price of $2,292.15 per ETH.
The foundation stated the funds will support core operations and activities, including protocol R&D, ecosystem development, and community grant funding. According to blockchain analytics platform Lookonchain, Bitmine also staked 162,088 ether as of Thursday, bringing its total staked ETH to 4,194,029 ether, worth about $9.5 billion and representing 83% of its cumulative holdings.
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