BitMine Acquires 5,000 ETH from Ethereum Foundation in $10.2M OTC Transaction
In an over-the-counter transaction valued at $10.2 million, the Ethereum Foundation sold 5,000 ETH to BitMine, continuing its treasury management approach designed to support operational needs and ecosystem growth initiatives.
An over-the-counter (OTC) transaction involving 5,000 Ether has been completed between the Ethereum Foundation and BitMine Immersion Technologies, with the deal valued at approximately $10.2 million at a price point of $2,042.96 per ETH.
According to a Saturday announcement on X by the foundation, the funds generated from this transaction will be allocated toward supporting essential operational activities, which encompass protocol research and development efforts, initiatives aimed at expanding the ecosystem, and programs providing grants to the community. The transfer of these assets onchain will be executed from a Safe multisignature wallet controlled by the Ethereum Foundation.
BitMine, which trades publicly on the NYSE American exchange using the stock symbol BMNR, has positioned itself among the most significant corporate entities holding Ether (ETH). Under the chairmanship of Tom Lee, who co-founded Fundstrat, the company maintains a substantial position of over 4.5 million ETH with an estimated value of approximately $9.3 billion, based on data from industry treasury monitoring platforms.
Since the middle of 2025, the company has been methodically building its Ether position, implementing a strategic approach that mirrors Strategy's accumulation methodology for Bitcoin (BTC).
EF conducts second corporate ETH OTC sale
This deal represents the second instance in which the Ethereum Foundation has executed a direct sale of ETH to a corporate treasury purchaser through an OTC arrangement. Previously, in July 2025, the foundation completed a sale of 10,000 ETH to SharpLink Gaming at an average transaction price of $2,572.37, representing a total value of approximately $25.7 million.
Such periodic asset sales form an integral component of the treasury management framework that the Ethereum Foundation established in June 2025. According to this policy structure, the organization systematically converts portions of its ETH reserves to sustain a fiat currency-based operational reserve fund. The strategic framework establishes a target for annual expenditures equivalent to approximately 15% of total treasury assets while ensuring the maintenance of an operating runway spanning multiple years.
The announcement follows closely after the foundation initiated the process of staking portions of its treasury assets, having outlined plans to allocate approximately 70,000 ETH to validator operations utilizing open-source infrastructure solutions.
EF publishes mandate outlining its role
Earlier this week, the Ethereum Foundation unveiled a newly published mandate document that delineates its responsibilities in guiding and stewarding the Ethereum ecosystem, with particular emphasis placed on decentralization principles and user sovereignty concerning assets and data. The published document articulates that Ethereum must continue to operate as a censorship-resistant platform that remains open source and preserves privacy while simultaneously achieving the scalability necessary to accommodate worldwide adoption.
According to the foundation's statement, its primary areas of concentration will include core protocol enhancement initiatives, long-range research endeavors, cybersecurity measures, and the development of tools for the developer community, all while progressively diminishing its direct oversight and influence over the network's operations.