Ethereum Foundation Sells $10.2M in ETH to Bitmine in OTC Deal

The Ethereum Foundation has completed a $10.2 million over-the-counter sale of 5,000 ETH to Bitmine Immersion Technologies, one of the leading publicly traded crypto treasury firms. The transaction cleared at an average price of $2,042.96 per ETH, with proceeds earmarked for the non-profit's ongoing operations.

Founded in 2014, the Ethereum Foundation continues to channel resources toward protocol research and development, ecosystem expansion, and community grant programs. Officials confirmed the sale aligns with the organization's established treasury management policy, which balances holding ETH against maintaining enough fiat or fiat-equivalent assets to sustain operations. Under the current framework, annual operating expenses are targeted at roughly 15% of total treasury value, supported by a 2.5-year operating buffer that guides the frequency of ETH liquidations.

This latest transaction follows a significant move made less than a month ago, when the Ethereum Foundation announced plans to stake as much as 70,000 ETH — a step designed to bolster operational funding while reinforcing the Foundation's active participation in the Ethereum network.

On the other side of the deal, Bitmine Immersion Technologies — led by renowned Fundstrat analyst Tom Lee — serves as the largest publicly traded ether treasury company, with holdings of approximately 4.53 million ETH currently valued at over $9.4 billion. The firm's portfolio is heavily concentrated in Ethereum, though it also holds around 195 Bitcoin and more than $1 billion in cash reserves. Bitmine further diversifies through strategic equity positions, including a stake in Beast Industries — the parent company behind YouTube megastar MrBeast following a $200 million investment — as well as a 7% ownership interest in Eightco, a firm tied to the Worldcoin treasury ecosystem.

The deal signals continued institutional confidence in Ethereum as a long-term digital asset, while highlighting the Ethereum Foundation's disciplined, policy-driven approach to managing its crypto reserves.