Ethereum Foundation Completes OTC Sale Of 10,000 ETH To BitMine Immersion Technologies

The Ethereum Foundation has completed another over-the-counter sale of 10,000 ETH to BitMine Immersion Technologies, with multiple outlets citing an average price of $2,292.15 per ETH and a total value around $22.9 million.

“Ethereum Foundation finalizes sale of 10,000 ether to BitMine as part of its treasury strategy The latest transaction follows a similar March deal in which the foundation sold 5,000 ETH to BitMine, raising roughly $10”

@coindesk

WEEX says the Foundation announced the sale of 10,000 ETH to BitMine “at an average price of $2,292.15 per ETH,” executed “through an over-the-counter (OTC) trading platform.”

@coindesk

Decrypt frames the deal as “the second straight weekly sale of 10,000 ETH to the leading Ethereum treasury company,” and says the Foundation “completed a third over-the-counter sale of 10,000 ETH to BitMine Immersion Technologies” at “an average price of $2,292 per ETH,” for “roughly $22.9 million.”

The Block similarly reports that “the foundation said it sold another 10,000 ETH worth nearly $23 million a week after also selling a 10,000 ETH block valued at roughly $24 million,” and adds that “Bitmine paid an average price of $2,292.15 per ETH.”

CoinDesk also states that the Foundation “finalized the sale of 10,000 ether to BitMine at an average price of $2,292.15 per token,” implying “proceeds of roughly $22.9 million.”

Across these reports, the counterparty is consistently identified as BitMine Immersion Technologies, and the transactions are repeatedly described as OTC to manage market impact.

Several outlets quote or paraphrase the Ethereum Foundation’s stated purpose for the sales, tying the proceeds to “core operations & activities” and to specific categories such as protocol research and development, ecosystem development, and community grants.

Decrypt says the Foundation posted that “This sale funds the Ethereum Foundation’s core operations and activities, including protocol R&D, ecosystem development, community grant funding and more.”

Benzinga France

The Block likewise reports that the organization said the funds will be put towards “core operations & activities, including protocol R&D, ecosystem development, community grant funding and more.”

CoinDesk adds that “proceeds will fund operations, such as R&D and ecosystem grants,” and says the transactions are part of “its ongoing treasury management strategy.”

Bloomingbit describes the OTC deal as being “to raise funds for its operations,” and lists “protocol research and development, ecosystem development and community grants” as the uses.

Even where outlets differ on market interpretation, the Foundation’s stated allocation categories remain consistent across reports.

BitMine’s accumulation and staking exposure are repeatedly connected to the Foundation’s sales, with Decrypt stating that “BitMine currently holds over 5 million ETH valued above $11.7 billion” and that BitMine is the “largest Ethereum treasury company.”

“This week, the Ethereum Foundation linked an ETH sale worth $10”

Bitcoin News

Decrypt also says BitMine “is currently sitting on an unrealized loss exceeding $6.3 billion due to the price decline,” while still describing the company’s continued purchases.

The Block adds that BitMine has been “steadily increasing the amount of ETH it is staking to earn yield,” and reports that “Last week, the company's staking exposure sat closer to 70% of its total holdings.”

It also says the Foundation’s selling “has drawn scrutiny in the past,” and notes that “the foundation has also begun staking a portion of its ETH holdings and deploying assets into DeFi, creating revenue for the organization.”

Benzinga France ties the narrative to Tom Lee’s thesis, saying BitMine “détient actuellement près de 4 % de l’offre totale d’Ethereum” and that it has “misé sur plus de 3 millions d’ETH, soit environ deux tiers de ses avoirs totaux,” which it says “devrait générer environ 300 millions de dollars de revenus annuels de staking.”

Across these accounts, BitMine’s staking and treasury positioning are presented as central to how the sales are absorbed and monetized.

While the transactions are described as routine treasury management in several reports, Crypto Briefing and other outlets connect the Foundation’s selling cadence to shifts in market confidence and prediction-market pricing.

Crypto Briefing says Ethereum’s market pricing reflects “a 3.8% YES probability for reaching $10,000 by December 31, 2026,” and notes “a slight decrease from 4% over the past week,” while also stating that the near-term market for Ethereum’s price being “less than $1,900 on April 30, 2026” is priced at “100% YES.”

bloomingbit

It then asserts that “The Ethereum Foundation’s significant sale of ETH to Bitmine appears to contribute to a reduction in market confidence for Ethereum reaching $10,000 by the end of 2026.”

The Block, by contrast, reports that the Friday announcement “was met with plenty of criticism,” quoting: “Why do you need $46 million in 2 weeks?! How much are you guys burning and what for?,” and it also notes that the Foundation previously said it planned to “limit ETH sales.”

Benzinga France presents a different angle, arguing that Tom Lee’s purchase signals “la fin de l’hiver crypto” and that “Lee pense qu’avec le temps, la valeur d’Ethereum va fortement augmenter,” while also claiming that “la prochaine course haussière est imminente.”

Even within the same broader topic, the sources show a split between those reading the Foundation’s sales as confidence-reducing and those reading BitMine’s accumulation as a bullish signal.

Across the reporting, the Foundation’s sale is anchored to specific dates and sometimes different average prices, creating a record that varies by outlet.

“Summary - The Ethereum Foundation signed a deal to sell 10,000 ETH through an over-the-counter (OTC) transaction”

bloomingbit

WEEX says the Ethereum Foundation announced the sale of 10,000 ETH to BitMine “at an average price of $2,292.15 per ETH,” while Decrypt says the average price was “$2,292 per ETH” and describes the total as “roughly $22.9 million.”

CoinDesk

The Block reports that Bitmine paid “$2,292.15 per ETH,” and adds that the Foundation sold “another 10,000 ETH worth nearly $23 million a week after also selling a 10,000 ETH block valued at roughly $24 million.”

DiaroBitcoin, however, describes a separate OTC sale at “an average price of USD $2,387 per unit” and says “The Ethereum Foundation announced that it closed an OTC sale of 10,000 ETH at an average price of USD $2,387 per unit,” with a total “around USD $23.87 million,” and it provides an onchain traceability detail: “The address provided by the organization is 0x9fC3dc011b461664c835F2527fffb1169b3C213e.”

Cryptoast focuses on an earlier 5,000 ETH sale, stating “The Ethereum Foundation sells 5,000 ETH to Bitmine” at “$2,042.96 per ETH,” and says “As of March 8, Bitmine held 4,534,563 ETH.”

Taken together, the sources show that the Foundation’s OTC treasury activity is being tracked across multiple tranches, with different outlets emphasizing different deals, different average prices, and different supporting details like multisig addresses.