Ethereum Foundation Sells 5,000 ETH to BitMine in $10.2M OTC Transaction
TLDR
The Ethereum Foundation sells 5,000 ETH to BitMine at $2,042.96 per Ether in an OTC transaction.
EF uses revenue to support protocol research, ecosystem development, and community grants.
BitMine now holds 4.53 million ETH, the largest publicly traded Ether treasury.
OTC sales avoid market disruption when transferring supply to a long-term institutional holder.
The Ethereum Foundation sells 5,000 ETH to BitMine Immersion Technologies for $10.2 million.
The sale will support the Foundation's operational funding by transferring Ether to one of the largest institutional ETH holders in the market.
The Ethereum Foundation uses OTC sales to manage treasury management
The Ethereum Foundation has confirmed the sale of 5,000 ETH without payment. The deal with BitMine Immersion Technologies was completed at an average of $2,042.96 per Ether.
The foundation manages the development of the Ethereum network, research programs and community initiatives. It periodically sells off part of its holdings to maintain its operating balance.
Funds from this transaction will support protocol research, ecosystem support, and developer support. These programs are central to the continued technical and community development of Ethereum.
The Foundation maintains a reserve management strategy to balance digital assets with fiat-like holdings. This structure ensures that operational costs are covered without removing large amounts of funds on public exchanges.
Annual costs are targeted at approximately 15% of Treasury value. In addition, the foundation maintains a two-and-a-half-year buffer to cover operational costs in the event of unforeseen circumstances.
No-fee offers allow such sales to take place privately. This prevents potential market pressure and price inflation on public exchanges.
OTC sales have become a standard method for crypto firms to conduct large transactions without disrupting business operations. The approach is also consistent with the Ethereum Foundation's treasury policy.
BitMine strengthens its institutional ETH position
BitMine Immersion Technologies acted as the buyer in this transaction. The company now holds approximately 4.53 million ETH, worth more than $9 billion at current market prices.
The firm is led by Tom Lee, Fundstrat's Chief Investment Officer. BitMine is expanding its Ether holdings as part of its long-term treasury strategy.
in addition ETHThe company holds about 195 BTC and more than $1 billion in cash. BitMine holds equity stakes in several companies, including an investment of $200 million.
It has a 7% stake in Eightco, a treasury entity linked to the Worldcoin project. This diversified portfolio complements the core focus on Ether reserves.
Marketing coverage includes social media that promote marketing:
Example of a Tweet: “Ethereum Foundation sells 5,000 ETH to BitMine in $10.2M OTC contract at $2,042.96 per ETH. Sale supports EF operations as BitMine expands institutional Ether holdings.”
The transaction reflects a continuous structured distribution of Ether, moving supply from active wallets to long-term institutional holders.
