Ethereum Foundation Sells 5,000 ETH to BitMine Immersion Technologies in $10 Million OTC Deal

The Ethereum Foundation has completed a significant over-the-counter (OTC) sale of 5,000 ETH to BitMine Immersion Technologies for approximately $10.2 million.

“Ethereum Foundation sells 5,000 ether to Tom Lee's BitMine in $10”

@coindesk

The transaction cleared at an average price of $2,042.96 per ETH, with the deal coming from an EF Safe multisig wallet.

@coindesk

The non-profit organization established in 2014 finalized this OTC transaction with one of the top crypto treasury firms.

At the time of the announcement, Ether was trading around $2,075, indicating the sale occurred near current market levels.

The Ethereum Foundation's sale strategy is governed by a comprehensive framework designed to maintain financial stability while supporting blockchain development.

The non-profit organization follows a policy targeting 15% of its treasury as annual operating spend with a 2.5-year runway buffer.

Decrypt

These periodic sales are specifically intended to fund core operations including protocol research and development, ecosystem growth initiatives, and community grants programs.

The framework aims to strike a strategic balance between holding ETH and maintaining sufficient fiat or fiat-like assets to cover ongoing operational costs.

BitMine Immersion Technologies has emerged as the dominant player in the publicly traded ETH treasury space, significantly expanding its cryptocurrency holdings through strategic acquisitions.

“1/ This sale funds the EF’s core operations & activities, including protocol R&D, ecosystem development, community grant funding and more”

Decrypt

Following this latest purchase, BitMine now holds over 4.5 million ETH, worth approximately $8.9 billion to $9.4 billion depending on market valuation.

The company represents roughly 3.76% of Ethereum's total circulating supply and has set an ambitious target to accumulate 5% of the total ETH supply.

The company, which operates under the ticker symbol BMNR on the NYSE American exchange, models its aggressive accumulation strategy after MicroStrategy's bitcoin-focused approach.

BitMine is currently staking more than 3 million ETH to earn yield and maximize returns, demonstrating its long-term commitment to Ethereum's ecosystem.

This latest transaction represents the second known instance of the Ethereum Foundation selling ETH directly to a corporate treasury buyer via OTC channels.

The previous significant OTC sale occurred in July 2025 when the foundation sold 10,000 ETH to SharpLink Gaming at an average price of $2,572.37, worth $25.7 million.

@coindesk

The OTC approach has become the preferred method for these large transactions, avoiding the public exchange sell pressure that drew significant community backlash in September 2025.

When the EF initially planned to sell 10,000 ETH via centralized exchanges, DeFi community members argued the foundation should borrow against its ETH or use OTC channels to minimize market disruption.

The Ethereum Foundation's recent activities reflect a multifaceted strategy for managing its substantial ETH treasury while simultaneously engaging more deeply with the Ethereum ecosystem's infrastructure development.

“Ethereum Foundation Funds Operations The Ethereum Foundation sold 5,000 Ether (ETH) to Bitmine Immersion Technologies for $10”

Whalesbook

In addition to periodic sales to corporate buyers, the foundation has begun staking a portion of its treasury, with plans to deploy roughly 70,000 ETH into validators using open-source infrastructure from Bitwise Onchain Solutions.

Decrypt

This dual approach of both liquidating some ETH for operational funding and staking other ETH for yield generation demonstrates the foundation's sophisticated treasury management strategy.

The timing of these activities comes amid widespread caution in the broader crypto market, suggesting the foundation is carefully navigating market conditions while maintaining its commitment to Ethereum's long-term development.