Ethereum

Safe

Arkham

<ul>
 <li>Ethereum Foundation sells 10K ETH through OTC to fund research, development, and ecosystem grants under treasury strategy.</li>
 <li>Bitmine expands holdings through direct deals, nearing target to control about 5% of Ethereum total supply.</li>
 <li>OTC transactions enable large crypto transfers with minimal market impact, supporting steady institutional accumulation.</li>
</ul>
<p>The Ethereum Foundation <a href="https://x.com/ethereumfndn/status/2047685166966161659?s=20" rel="noopener noreferrer nofollow">confirmed</a> Friday it sold 10,000 ETH to Bitmine Immersion Technologies through an OTC deal. The transaction cleared at an average price of $2,387 per ETH, totaling about $24 million. According to the Foundation, the sale supports operations, including research, development, and ecosystem grants under its treasury management policy.</p>
<h2 class="wp-block-heading" id="strong-otc-deal-expands-bitmine-holdings-strong"><strong>OTC Deal Expands Bitmine Holdings</strong></h2>
<p>The transaction adds to Bitmine’s growing Ethereum reserves. Reports show the firm already held nearly 5 million ETH valued at about $11.5 billion. Earlier this week, on-chain data indicated Bitmine acquired another 100,000 ETH for roughly $234 million.</p>
<p>This latest purchase also follows a similar deal. Last month, <a href="https://cryptofrontnews.com/bitmine-acquires-101627-eth-worth-235m-despite-6-3b-unrealized-loss/" rel="noopener noreferrer nofollow">Bitmine</a> bought 5,000 ETH from the Ethereum Foundation in another OTC transaction. As a result, the firm continues sourcing large volumes directly rather than relying only on exchanges.</p>
<h2 class="wp-block-heading" id="strong-foundation-outlines-treasury-strategy-strong"><strong>Foundation Outlines Treasury Strategy</strong></h2>
<p>According to the <a href="https://cryptofrontnews.com/bitmine-buys-5000-eth-from-ethereum-foundation-in-deal/" rel="noopener noreferrer nofollow">Ethereum Foundation</a>, the proceeds will fund core activities. These include protocol research, ecosystem development, and community grant programs. The Foundation stated the sale aligns with ongoing treasury management efforts.</p>
<p>Notably, the transaction will settle on-chain through a Safe multisig wallet controlled by the Foundation. The organization also confirmed it still holds about 92,538 ETH, valued near $214 million, based on Arkham Intel data.</p>
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<p>Additionally, part of the remaining treasury has been deployed into staking strategies. This approach forms part of a broader funding structure alongside periodic asset sales.</p>
<h2 class="wp-block-heading" id="strong-bitmine-nears-supply-target-strong"><strong>Bitmine Nears Supply Target</strong></h2>
<p>Bitmine’s accumulation strategy remains active as it approaches internal targets. Reports indicate the firm aims to control roughly 5% of Ethereum’s total supply. Current holdings already place it close to that threshold.</p>
<p>The company, chaired by <a href="https://cryptofrontnews.com/tom-lees-bitmine-acquires-71179-eth-as-holdings-near-the-5-target/" rel="noopener noreferrer nofollow">Tom Lee</a>, has continued purchases while other firms slowed activity. Its reported assets recently reached about $12.9 billion, including crypto, cash, and equity stakes.</p>
<p>Meanwhile, the OTC structure allows large trades without significant market disruption. That approach has enabled repeated transactions between Bitmine and the Ethereum Foundation this year.</p>
<p>The post <a href="https://cryptofrontnews.com/ethereum-foundation-sells-10k-eth-to-bitmine-otc-deal/" rel="noopener noreferrer nofollow">Ethereum Foundation Sells 10K ETH To Bitmine OTC Deal</a> appears on <a href="https://cryptofrontnews.com" rel="noopener noreferrer nofollow">Crypto Front News</a>. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.</p>

Ethereum Foundation Sells 10K ETH To Bitmine OTC Deal

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