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Automated browser-synthesized deep dive into Ethereum using latest global data.
Executive Summary
In a significant development for the Ethereum ecosystem, the Ethereum Foundation (EF) has completed its third over-the-counter (OTC) sale of Ether (ETH) to BitMine Immersion Technologies. The transaction involved 10,000 ETH at an average price of $2,292 per coin, totaling approximately $22.9 million. This follows a nearly identical deal executed just one week prior, bringing the combined value of ETH sold by the Foundation to BitMine in the past two weeks to roughly $47 million. Simultaneously, the Ethereum community is preparing for the seventh cohort of the Ethereum Protocol Fellowship (EPF7), with applications open until May 13, 2026. As Ether trades around $2,303—down more than 53% from its all-time high—the market watches closely as institutional accumulation and core development initiatives intersect.
In-Depth Breakdown: The Current Situation
The Ethereum Foundation has been active in managing its treasury through strategic OTC sales to BitMine Immersion Technologies. This latest transaction marks the third deal between the two entities, following a first sale in March for 5,000 ETH and a second sale one week prior to this announcement. In an official post on X, the Foundation stated that these sales fund core operations, including protocol research and development (R&D), ecosystem development, and community grant funding.
Concurrently, BitMine Immersion Technologies has solidified its position as the largest Ethereum treasury company by holdings. Following the recent purchases, BitMine’s ETH holdings surpassed 5.078 million coins, representing a massive share of global supply. The company has executed a strategic pivot from hardware-heavy Bitcoin mining to an Ethereum-centric model. This includes operating the MAVAN validator network and staking approximately 83% of its cumulative ETH holdings (around 4.19 million coins). BitMine recently reached a milestone of nearly 5 million ETH on its books, achieved after adding 101,901 ETH in its biggest weekly purchase of the year.
On the development front, the Ethereum Foundation announced Cohort 7 of the Ethereum Protocol Fellowship (EPF7) on April 30, 2026. Applications for this cohort remain open until May 13. The program runs from June through November and focuses on advancing Ethereum’s roadmap with a specific emphasis on core properties: censorship resistance, open source, privacy, and security. Unlike previous iterations, EP
This report was synthesized by TrendWatcher AI using real-time global data.Original Source Reference