The Ethereum Foundation has sold another 10,000 ether (ETH) in an over-the-counter deal to Tom Lee’s BitMine (BMNR), continuing a string of treasury sales this year.

In a post on X on Friday, the organization said it finalized the sale at an average price of $2,292.15 per token, implying proceeds of roughly $22.9 million. The counterparty was BitMine Immersion Technologies, a repeat buyer that has increasingly acted as a key institutional accumulator of ETH from the foundation.

The latest transaction follows a similar March deal in which the foundation sold 5,000 ETH to BitMine at about $2,042 per ETH, raising roughly $10.2 million.

Like prior sales, the Ethereum Foundation said proceeds will go toward core operations & activities, including protocol research and development, ecosystem growth and community grants, a longstanding funding model for the organization.