The Ethereum Foundation has sold 5,000 Ether to BitMine Immersion Technologies in an over-the-counter transaction valued at $10.2 million. The agreed price was $2,042.96 per ETH.
Proceeds will support core operations: protocol research and development, ecosystem growth, and community grant programs. The transfer originated from the foundation’s multisignature wallet.
BitMine, publicly traded on NYSE American as BMNR and chaired by Fundstrat co-founder Tom Lee, now holds over 4.5 million ETH-valued near $9.3 billion. It has steadily accumulated ETH since mid-2025 using a strategy modeled on Bitcoin treasury accumulation.
This marks the foundation’s second corporate OTC ETH sale this year. In July 2025, it sold 10,000 ETH to SharpLink Gaming for $25.7 million. Both transactions follow the June 2025 treasury management framework, which converts portions of ETH holdings into fiat to maintain a multi-year operating runway while targeting annual spending at ~15% of treasury value.
The foundation recently began staking approximately 70,000 ETH across open-source validators. It also published a new mandate reaffirming its commitment to Ethereum’s decentralization, censorship resistance, open-source ethos, and user sovereignty.