Ethereum Foundation Sells 5,000 ETH to BitMine for $10.2M

The Ethereum Foundation announced on March 14, 2026, that it had sold 5,000 ETH through an over-the-counter transaction to BitMine Immersion Technologies, a publicly traded cryptocurrency treasury firm, for approximately 10.2 million at an average price of 2,042.96 per token. The nonprofit organization, which supports the development of the Ethereum blockchain network, stated that the proceeds would fund its core operations, including protocol research and development, ecosystem growth initiatives, and community grant programs.

This sale marks the second time the foundation has offloaded ETH directly to a corporate treasury company via OTC, a method that allows large transactions to occur privately between parties without impacting public market prices. In July 2025, the foundation sold 10,000 ETH, valued at about 30 million at the time, to Sharplink, another major ETH holder. OTC deals are common among institutions to minimize slippage and volatility, and on-chain data confirmed the transfer from a foundation-linked wallet to one associated with BitMine.

BitMine, chaired by investor Tom Lee, has emerged as the largest known corporate holder of Ethereum, with holdings exceeding...