Ethereum Foundation Uploads 5,000 ETH to BitMine (BMNR) for $10.2 Million Transaction

TLDR

• BitMine Immersion Technologies (BMNR) acquired 5,000 ETH from the Ethereum Foundation through an exchange transaction worth approximately $10.2 million and ETH at $2,042.96.
• This is the Fund’s second direct corporate sale of ETH after completing a $25.7 million deal with SharpLink Gaming in July 2025.
• BitMine, led by Fundstrat’s Chairman Tom Lee, has become the world’s largest Ether treasury company, with assets of more than 4.5 million ETH, about $9.3 billion.
• Proceeds from the transaction support the Foundation’s critical operations, including research and protocol development, ecosystem expansion, and community grant programs.
• The transaction follows EF’s treasury management strategy, which allocates approximately 15% of treasury assets annually to operating expenses and holding reserves for many years.

BitMine Immersion Technologies (BMNR) has acquired 5,000 ETH directly from the Ethereum Foundation in an exchange transaction worth approximately $10.2 million. The transaction was completed at an average rate of $2,042.96 per ETH token.

The foundation disclosed the transaction on Saturday through an announcement published on X. Chain movement is performed from the Ethereum Foundation Safe multisig wallet.

Trading on the US NYSE under the ticker BMNR, BitMine is led by chairman Tom Lee, co-founder of Fundstrat, who has publicly advocated for Ethereum as a strategic corporate treasury holding.

Bitmine Immersion Technologies, Inc., BMNR

With a current holding of more than 4.5 million ETH, worth about $9.3 billion, BitMine is the largest publicly listed company in the world that has Ether in its reserves.

BitMine’s investment strategy heavily emphasizes ETH. In addition to its core Ether holdings, the company holds approximately 195 BTC, more than $1 billion in cash reserves, and equity investments in several ventures.

This investment includes ownership in Beast Industries, which is associated with popular YouTube content editor MrBeast, secured by a $200 million capital injection. In addition, BitMine maintains a 7% ownership position in Eightco, a treasury company focused on Worldcoin.

Since the middle of 2025, the company has continuously expanded its ETH position, using a strategy reminiscent of the Strategy’s approach to Bitcoin accumulation.

EF’s second corporate OTC contract

This transaction is the second example of the Ethereum Foundation selling ETH directly to a corporate entity for treasury purposes. Previously, in July 2025, the Fund transferred 10,000 ETH to SharpLink Gaming at a cost of $2,572.37 per token, earning approximately $25.7 million.

These transactions are in line with EF’s treasury management model established in June 2025. This framework mandates periodic conversion of ETH holdings into traditional currencies to maintain operational liquidity.

The Foundation maintains an annual spending target of approximately 15% of the total value of the fund. In addition, it maintains a 2.5-year operating reserve that determines the timing and amount of ETH liquidation.

Proceeds from BMNR transactions fund protocol research activities, networking ecosystem development projects, and distribution of grants to community initiatives.

EF Staking and the new mandate

This sale follows the Foundation’s recent announcement of a plan to contribute up to 70,000 ETH using open source validator systems. The goal of this initiative is to generate network rewards while strengthening the Fund’s active participation in Ethereum operations.

Earlier this week, EF published an updated mandate document that clarifies its responsibilities in guiding the Ethereum ecosystem. The framework prioritizes decentralization, censorship resistance, open source collaboration, and user autonomy.

According to the Foundation, areas of focus include fundamental improvements to protocols, forward-looking research initiatives, network security measures and developer infrastructure. The document also shows intentions to gradually reduce its concentration in the entire ecosystem.

According to industry treasury monitoring platforms, the current holding of BitMine Ether is more than 4.5 million ETH.

The post Ethereum Fund Uploads 5,000 ETH to BitMine (BMNR) for $10.2 Million Transaction appeared first on Blockonomi.

Source: https://blockonomi.com/ethereum-foundation-offloads-5000-eth-to-bitmine-bmnr-in-10-2m-deal/