Ethereum Foundation will sell 10,000 ETH to BitMine at an average price of $2,387

BlockBeats News, April 24th, the Ethereum Foundation announced the finalization of the sale of 10,000 ETH to the Ethereum first treasury company BitMine through an over-the-counter (OTC) trading platform, at an average price of $2,387 per ETH.

BitMine currently holds a total of 4.976 million ETH, approximately equivalent to $11.6 billion, with around 3.588 million ETH being staked, accounting for approximately 72.1% of its total holdings.

Source

Correction/Report

RelatedRecommended

BitMine is about to hold 5% of ETH, Is It a Risk or a Boon?

Both Suffering Over $9 Billion in Losses, Which One Is More Dangerous: Strategy or Bitmine?

Compared to a strategy relying on debt and preferred stock financing, Bitmine's current financial structure has more cushioning capability thanks to equity issuance, cash reserves, and ETH staking rewards.

Stock Price Drops Over 80% - How Long Can Ethereum's Final Buyer, BitMine, Hold Out?

The ebb of the top three buyers, BitMine bears the brunt of ETH selling pressure alone. With a floating loss of 3 billion, it is the ultimate gamble about "buying the dip" and "catching the falling knife."

Pantera: After Mopping Up 1 Million ETH, How Should BitMine Be Valued?

Since the end of June, BMNR's stock price has risen by over 1300%; meanwhile, ETH is approaching a new all-time high.

Peter Thiel Quietly Backs BitMine, PayPal Mafia Godfather Bets on Ethereum

2025's Peter Thiel is no longer satisfied with being a passive hodler.

On-Chain Activity