The Ethereum Foundation has completed the sale of 5,000 Ether to BitMine Immersion Technologies, a transaction valued at approximately $10.2 million based on an agreed price of $2,042.96 per ETH.
In an announcement on Saturday at X, the foundation said proceeds from the sale will support core operations, including research and protocol development, ecosystem development initiatives and community grant programs. Onchain transmission originates from the Ethereum Foundation Safe multi-signature wallet.
BitMine, a publicly traded company on the NYSE American under the ticker BMNR, has emerged as one of the largest corporate holders of Ether (ETH). Chaired by Fundstrat founder Tom Lee, the company has more than 4.5 million ETH worth about $9.3 billion, according to industry treasury trackers.
The company has accumulated Ether continuously since mid-2025, following a strategy similar to the Bitcoin (BTC) strategy accumulation model.
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EF Completes Second Corporate ETH OTC Sale
This transaction marks the second time that the Ethereum Foundation has sold ETH directly to a corporate treasury buyer through an OTC transaction. In July 2025, the organization sold 10,000 ETH to SharpLink Gaming at an average price of $2,572.37, a transaction worth approximately $25.7 million.
These circular sales are part of the Ethereum Foundation’s treasury management framework, which was introduced in June 2025. As part of this policy, the organization periodically converts a portion of its ETH holdings to maintain a fiat-based operating reserve. The framework envisages annual spending at around 15% of treasury assets while maintaining a multi-year runway.
The announcement comes shortly after the foundation raised some of its funding and plans to deploy around 70,000 ETH in validators using the open source infrastructure.
related to: Ethereum Accumulation Wallets Up 30%: Will ETH Price Follow?
EF publishes a mandate that outlines its role
This week, the Ethereum Foundation released a new mandate for its role in managing the Ethereum ecosystem, emphasizing decentralization and user sovereignty over assets and data. The document notes that Ethereum must remain censorship-resistant, open-source, and privacy-preserving while expanding to support global adoption.
The foundation said it will focus on improving core protocols, long-term research, cybersecurity and developer tools, and gradually reducing its direct impact on the network.
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