The Ethereum Foundation sold approximately $47 million worth of ETH to Bitmine within a week

The Ethereum Foundation has once again sold 10,000 ETH (approximately $23 million) to Bitmine, adding to a similarly sized transaction from 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 development, ecosystem building, and community funding.

Data shows that after completing the acquisition, Bitmine has continued to increase its staking, currently staking approximately 4,190,000 ETH (about $9.5 billion), accounting for about 83% of its total holdings.