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# Ethereum Foundation Liquidity Event
The Ethereum Foundation realized a portion of its cryptocurrency reserves through an over-the-counter transaction with BitMine Immersion Technologies. Through this operation, the corporate buyer acquired 5,000 $ETH. The total deal value amounted to approximately $10.2 million, with the price of 1 coin fixed at $2042. Representatives of the Ethereum Foundation announced the completion of the transaction on social media.
It was emphasized that the funds received will be directed toward financing key areas of activity. This includes support for research and development of the Ethereum protocol, implementation of ecosystem expansion initiatives, as well as grant programs for developers and community members.
BitMine Immersion Technologies is a public company whose shares trade on the New York Stock Exchange under the ticker BMNR. In recent years, it has been actively expanding its cryptocurrency reserves, particularly in Ethereum. Through this strategy, the company has already become one of the largest corporate holders of the leading altcoin. This accumulation model is often compared to the approach taken by Strategy, which systematically expands its Bitcoin reserves.