The Ethereum Foundation has completed an over-the-counter sale of 5,000 Ether to BitMine Immersion Technologies, a transaction valued at approximately $10.2 million. The sale represents the second time the organization has sold ETH directly to a corporate treasury buyer through an OTC arrangement.
According to a Saturday X post from the Ethereum Foundation, the proceeds will fund core operations, including protocol research and development, ecosystem growth initiatives, and community grant programs. The agreed price was set at $2,042.96 per ETH, with the on-chain transfer originating from an Ethereum Foundation Safe multisignature wallet.
BitMine, which trades on the NYSE American under the ticker BMNR, has become one of the largest corporate holders of Ether. The company, chaired by Fundstrat co-founder Tom Lee, holds more than 4.5 million ETH worth roughly $9.3 billion according to industry treasury trackers.
The firm has been steadily accumulating Ether since mid-2025, following a strategy similar to Strategy’s Bitcoin accumulation model. BitMine’s holdings position it among the top six Ether treasury firms globally.
The transaction marks the second corporate OTC sale conducted by the Ethereum Foundation. In July 2025, the organization sold 10,000 ETH to SharpLink Gaming at an average price of $2,572.37, a deal valued at about $25.7 million.
These periodic sales form part of the Ethereum Foundation’s treasury management framework that was introduced in June 202a5. Under this policy, the organization periodically converts a portion of its ETH holdings to maintain a fiat-based operating reserve.
See also: Breaking : Bitwise Expresses Confidence In Ethereum ETF
The framework targets annual spending equal to roughly 15% of treasury holdings while maintaining a multi-year operating runway. This approach allows the foundation to fund ongoing operations without exposing itself to excessive cryptocurrency price volatility.
The announcement follows shortly after the foundation began staking a portion of its treasury. The organization plans to deploy around 70,000 ETH into validators using open-source infrastructure.
Earlier this week, the Ethereum Foundation released a new mandate outlining its role in stewarding the Ethereum ecosystem. The document emphasizes decentralization and user sovereignty over assets and data as core principles.
The mandate states that Ethereum should remain censorship-resistant, open source, and privacy-preserving while scaling to support global adoption. The foundation said it will focus on core protocol upgrades, long-term research, cybersecurity, and developer tools.
The organization also indicated plans to gradually reduce its direct influence over the network. This strategy aligns with the broader goal of increasing decentralization across the Ethereum ecosystem.
The OTC sale structure allows both parties to execute large transactions without impacting market prices. For BitMine, the deal provides a direct acquisition channel for adding to its Ether treasury at a negotiated price.
For the Ethereum Foundation, OTC sales offer a way to convert holdings into operational funding while maintaining price stability. The foundation has consistently emphasized that treasury management decisions are made with long-term sustainability in mind.
The $10.2 million transaction represents a small fraction of BitMine’s total Ether holdings but provides the Ethereum Foundation with significant operational capital. The foundation’s approach to treasury management continues to evolve as the organization balances funding needs with its commitment to decentralization.
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