The Ethereum Foundation sold 5,000 ETH to BitMine for $10.2 million.

The Ethereum Foundation (ETH Foundation) completed an over-the-counter (OTC) transaction, selling 5,000 ETH to BitMine Immersion Technologies at $2,042.96 per ETH, for a total value of approximately $10.2 million. The transaction was conducted on-chain via the Ethereum Foundation's Safe multisignature wallet. The Ethereum Foundation stated in a statement on the X platform that the proceeds will be used to support the core operations of the Ethereum ecosystem, including protocol development, community funding, and broader ecosystem building. BitMine Immersion Technologies is listed on the New York Stock Exchange's U.S. sector under the ticker symbol BMNR, and its chairman is Tom Lee, co-founder of Fundstrat. The company currently holds over 4.5 million ETH, worth approximately $9.3 billion, and has been continuously increasing its ETH holdings since mid-2025. This is the second time the Ethereum Foundation has sold ETH to a corporate buyer via an OTC transaction. In July 2025, the foundation sold 10,000 ETH to SharpLink Gaming at an average price of $2,572.37, a transaction valued at approximately $25.7 million. The aforementioned transactions all fall under the financial management framework launched by the Ethereum Foundation in June 2025. This framework allows the Foundation to periodically convert a portion of its ETH holdings into fiat currency reserves to support operating expenses. Furthermore, the Ethereum Foundation recently plans to deploy approximately 70,000 ETH to validator nodes for staking.