Techub News reports that, according to CoinDesk, the Ethereum Foundation has completed the sale of 10k ETH to BitMine at an average price of $2,292.15, totaling approximately $22.9 million. The foundation states that this over-the-counter transaction is part of treasury management strategies, and the proceeds will be used for protocol development and ecosystem funding, among other core operations. This transaction follows a previous treasury disposal in March of this year, when 5,000 ETH were sold to BitMine. The foundation indicated that such OTC trades aim to avoid impacting the spot market and are executed through multi-signature wallets to enhance transparency. Led by Fundstrat analyst Tom Lee, BitMine has become one of the foundation’s important institutional buyers.

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