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The Ethereum Foundation has completed an over-the-counter transaction involving the sale of 5000 ethers to BitMine Immersion Technologies, the largest publicly traded corporate holder of this second-largest cryptocurrency by market capitalization. The transaction amount was approximately $10.2 million, with an agreed price of $2042.96 per ether.
The funds raised will be allocated to support research and development of the blockchain protocol, initiatives for ecosystem growth, and grant programs for the Ethereum community, the foundation stated. The transfer of funds is expected to occur from the Ethereum Foundation Safe multi-signature wallet.
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This transaction marks the second instance of the Ethereum Foundation selling ethers directly to a corporate buyer via an over-the-counter platform. In July 2025, the foundation sold 10,000 ETH to SharpLink Gaming at an average price of $2572.37 per token. The total value of that transaction was around $25.7 million.
The periodic sale of ether is regarded as part of the Ethereum Foundation’s reserve management strategy, which was approved in June of the previous year. The organization periodically converts a portion of its ether reserves into fiat currency to maintain an operational reserve in traditional currencies. Annual expenses account for approximately 15% of this reserve. Recently, the foundation has begun to allocate some of its assets to staking. The organization plans to utilize around 70,000 ETH as validators using open-source infrastructure.
BitMine holds over 4.5 million ETH, valued at approximately $9.3 billion, according to data from CoinGecko. BitMine has been accumulating ether since mid-2025, following a strategy similar to the bitcoin accumulation model of Strategy. In early March, BitMine acquired 50,928 ethers.
