Ethereum Foundation Sold Approximately $47 Million in ETH to Bitmine Within a Week

Odaily Planet Daily News The Ethereum Foundation has sold another 10,000 ETH (approximately $23 million) to Bitmine, adding to a transaction of equal scale a week ago, bringing the total sale amount to approximately $47 million.

The foundation stated that the funds will be used for core operations, including protocol research and development, ecosystem development, and community grants.

Data shows that after completing the acquisition, Bitmine has been continuously increasing its staking and has currently staked approximately 4.19 million ETH (about $9.5 billion), accounting for roughly 83% of its total holdings.