The Ethereum Foundation said it sold 10,000 ETH to Bitmine in an over-the-counter transaction at an average price of $2,387 per ETH, implying a value of nearly $24 million. The foundation said the proceeds will support core operations and activities, including protocol research and development, ecosystem development, and community grants. Earlier reporting identified the counterparty as Bitmine, while another disclosure named BitMNR; the source does not clarify whether these refer to the same entity. One source also associates Bitmine with Tom Lee. The transaction was described as a private large-block trade, a structure commonly used to limit market impact compared with selling through public exchanges.