Ethereum Foundation Sells 5,000 ETH to BitMine in $10.2M OTC Transaction

TLDR: Ethereum Foundation sells 5,000 ETH to BitMine at $2,042.96 per ether in an OTC transaction. EF uses proceeds to fund protocol research, ecosystem growth, and community grants. BitMine now holds 4.53 million ETH, the largest publicly traded ether treasury. OTC sale avoids market disruption while transferring supply to a long-term institutional holder. Ethereum Foundation sells 5,000 ETH to BitMine Immersion Technologies in a $10.2 million over-the-counter transaction. The sale supports the foundation’s operational funding while transferring ether to one of the largest institutional ETH holders in the market. Ethereum Foundation Uses OTC Sales to Manage Treasury The Ethereum Foundation confirmed the sale of 5,000 ETH through an over-the-counter transaction. The deal was completed with BitMine Immersion Technologies at an average price of $2,042.96 per ether. The foundation manages the Ethereum network’s development, research programs, and community initiatives. It periodically sells portions of its holdings to maintain operational liquidity. BREAKING: The Ethereum Foundation just sold 5,000 ETH worth $10.2M via OTC to @BitMNR at $2,042.96 per ETH The Buyer?#BitMine, led by Tom Lee, the LARGEST publicly traded $ETH treasury company holding 4.5M+ ETH worth $9.3B. pic.twitter.com/P4OO36feNH — Crypto Patel (@CryptoPatel) March 15, 2026 Funds from this transaction will finance protocol research, ecosystem grants, and developer support. These programs are central to sustaining Ethereum’s technical and community growth. The foundation maintains a reserve management strategy to balance digital assets with fiat-like holdings. This structure ensures that operational expenses remain covered without liquidating significant amounts on public exchanges. Annual expenditures are targeted at roughly 15% of treasury value. Additionally, the foundation maintains a two-and-a-half-year buffer to cover operational costs in case of unexpected fluctuations. Over-the-counter deals a...