Ethereum Foundation sells $10.2M worth of ETH to BitMine in OTC deal
The Ethereum Foundation has finalized an over-the-counter (OTC) sale of 5,000 Ether to BitMine Immersion Technologies, a transaction worth about $10.2 million based on the agreed price of $2,042.96 per ETH.
The foundation said it will focus on core protocol upgrades, long-term research, cybersecurity and developer tools while gradually reducing its direct influence over the network.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
About Author
