Odaily Planet Daily reports that the Ethereum Foundation has completed an over-the-counter transaction, selling 5,000 ETH to BitMine Immersion Technologies at a price of $2,042.96 per ETH, for a total value of approximately $10.2 million. The transaction was executed on-chain via the Ethereum Foundation’s Safe multisig wallet. The Ethereum Foundation posted on X that the proceeds will be used to support core operations of the Ethereum ecosystem, including protocol development, community grants, and broader ecosystem building.
BitMine Immersion Technologies is listed on the NYSE American under the ticker symbol BMNR, with Tom Lee, co-founder of Fundstrat, serving as chairman. The company currently holds over 4.5 million ETH, valued at approximately $9.3 billion, and has been consistently increasing its ETH holdings since mid-2025.
This is the second time the Ethereum Foundation has sold ETH to corporate buyers via over-the-counter (OTC) transactions. In July 2025, the foundation sold 10,000 ETH to SharpLink Gaming at an average price of $2,572.37, resulting in a transaction value of approximately $25.7 million. Both transactions fall under the Ethereum Foundation’s financial management framework, launched in June 2025, which permits the foundation to periodically convert a portion of its ETH holdings into fiat reserves to support operational expenses. Additionally, the Ethereum Foundation recently plans to deploy approximately 70,000 ETH to validator nodes for staking.