Ethereum Foundation Sells 5,000 ETH to BitMine Immersion Technologies

The Ethereum Foundation has completed an over-the-counter transaction, selling 5,000 ETH at a price of $2,042.96 per coin to BitMine Immersion Technologies, totaling approximately $10.2 million. According to Odaily, the transaction was executed through the Ethereum Foundation's Safe multi-signature wallet. The foundation announced on the X platform that the proceeds will be used to support core operations within the Ethereum ecosystem, including protocol development, community funding, and broader ecosystem construction.BitMine Immersion Technologies is listed on the NYSE American under the ticker BMNR, with Fundstrat co-founder Tom Lee serving as chairman. The company currently holds over 4.5 million ETH, valued at approximately $9.3 billion, and has been increasing its ETH holdings since mid-2025.This marks the second time the Ethereum Foundation has sold ETH to corporate buyers through an over-the-counter transaction. In July 2025, the foundation sold 10,000 ETH to SharpLink Gaming at an average price of $2,572.37, with the transaction valued at around $25.7 million. These transactions are part of the financial management framework introduced by the Ethereum Foundation in June 2025, which allows the foundation to periodically convert a portion of its ETH holdings into fiat reserves to support operational expenses. Additionally, the Ethereum Foundation plans to deploy approximately 70,000 ETH to validator nodes for staking.