According to The Block, the Ethereum Foundation sold 10,000 ETH valued at approximately $23 million to Tom Lee’s Bitmine Immersion Technologies on Friday, bringing the total ETH sales to Bitmine to roughly $47 million within a week. The latest transaction occurred at an average price of $2,292.15 per ETH. Bitmine also began staking another 162,088 ether as of Thursday, bringing its total staked ETH to 4,194,029 ether worth about $9.5 billion, representing 83% of its cumulative holdings, according to blockchain analytics platform Lookonchain. The Ethereum Foundation said the funds from the sales will be directed towards core operations and activities, including protocol R&D, ecosystem development, and community grant funding.
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