The Ethereum Foundation has completed an over-the-counter sale of 5,000 Ether to BitMine Immersion Technologies for about $10.2 million. The transaction was priced at $2,042.96 per ETH, based on the figures disclosed by the foundation. The organization said it will use the proceeds to fund operations, research, ecosystem development, and community grants.
The Ethereum Foundation disclosed the transaction in a post published on Saturday. It said the transfer will be made from an Ethereum Foundation Safe multisignature wallet. The foundation also stated that the funds from the transaction will support protocol research and development, ecosystem growth initiatives, and grant programs.
The sale marks the second time the Ethereum Foundation has sold ETH directly to a corporate treasury buyer through an OTC transaction. In July 2025, the foundation sold 10,000 ETH to SharpLink Gaming at an average price of $2,572.37 per token. This earlier transaction was valued at about $25.7 million.
The foundation linked both transactions to its treasury management framework introduced in June 2025. Under that framework, the organization converts part of its ETH holdings into fiat or fiat-like assets to support operating needs. The policy targets annual spending of about 15% of treasury holdings while maintaining a multi-year operating runway.
The latest sale followed the foundation’s recent move to stake part of its treasury. The organization has said it plans to deploy about 70,000 ETH into validators using open-source infrastructure. The initiative forms part of its broader treasury and operational strategy.
BitMine Immersion Technologies, which trades on the NYSE American under the ticker BMNR, was the buyer in the transaction. The company acquired the 5,000 ETH at the agreed price of $2,042.96 per token. Based on that price, the total value of the deal reached about $10.2 million.
According to data, BitMine holds more than 4.5 million ETH in its treasury. At the stated valuation, those holdings are worth about $9.3 billion. The company is identified as one of the largest publicly listed corporate holders of Ether.
BitMine is chaired by Fundstrat co-founder Tom Lee. The company has steadily increased its Ether holdings since mid-2025. Its treasury strategy has drawn comparisons to the Bitcoin accumulation model used by Strategy, formerly MicroStrategy, because it focuses on building a large digital asset reserve.
Beyond its Ether position, BitMine also holds about 195 BTC, more than $1 billion in cash, and equity investments in other ventures, according to the supplied information. These holdings show that Ether remains the core treasury asset in the company’s balance sheet.
During the same week, the Ethereum Foundation published a new mandate defining its role in the Ethereum ecosystem. The document stated that Ethereum should remain open source, censorship-resistant, privacy-preserving, and focused on user control over assets and data. It also said the network should continue scaling to support broader use.
The foundation said it will focus on core protocol upgrades, long-term research, cybersecurity, and developer tools. It also stated that it plans to reduce its direct influence over the network over time. The mandate presented these areas as its main responsibilities going forward.
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