Ethereum Foundation Sells 10,000 ETH to BitMine via OTC at $2,387 Average Price

Gate News message, April 24 — The Ethereum Foundation sold 10,000 ETH through an over-the-counter (OTC) agreement with BitMine at an average price of $2,387 per token, totaling approximately $23.87 million. The transaction was completed on April 24, 2026, and will be executed on-chain from the EF's Safe multisig wallet at 0x9fC3dc011b461664c835F2527fffb1169b3C213e. The sale occurs as ETH trades below the $2,500 psychological level.

This OTC transaction follows a March 2026 sale of 5,000 ETH to the same counterparty and complies with the Foundation's official Treasury Policy released in June 2025. The proceeds will fund R&D, development, and grants programs. According to Arkham blockchain analytics, the EF currently holds approximately 92,538 ETH, valued at around $214 million at recent prices. The Foundation maintains an annual operational expenditure of 15% of its treasury while keeping a 2.5-year runway.

On April 24, Ethereum traded at $2,353, up 2.73% over the past five days, though it remains below the $2,500 resistance level. In contrast, Bitcoin gained 5.81% over the same period and is up 29.8% year-to-date. At the start of April, the Ethereum Foundation completed its 70,000 ETH staking campaign, depositing over 69,500 ETH to the Ethereum Beacon Chain, valued at approximately $143 million. With current staking yields of 2.7% to 3.8%, the staked ETH is expected to generate annual income between $3.9 million and $5.4 million.