BitMine Secures 5,000 ETH at $2,042 per Token in Direct Deal with Ethereum Foundation
The Ethereum Foundation has completed a new over-the-counter ETH transaction, selling 5,000 ETH to BitMine Immersion Technologies in a deal valued at approximately $10.2 million. The sale was priced at $2,042.96 per ETH token, according to details released by the foundation on Saturday, adding another major purchase to BitMine’s growing digital asset reserves.
In a statement published on X, the foundation said the funds generated from the transaction will be used to support key operational priorities, including protocol research, development work, ecosystem expansion and grant programs aimed at community contributors.
The transfer will be executed from an Ethereum Foundation Safe multisignature wallet, maintaining the organization’s established treasury controls and transparent handling of large asset movements.
BitMine Expands Its Position Among Top Corporate Ether Holders
The transaction further strengthens BitMine’s position as one of the largest public corporate holders of Ethereum. Industry treasury trackers estimate that the company now holds more than 4.5 million ETH, giving it a reserve worth roughly $9.3 billion at current market prices.
BitMine, listed on the NYSE American under the BMNR ticker, has steadily expanded its ETH holdings since mid-2025. Its treasury strategy has drawn comparisons to Strategy, whose aggressive Bitcoin purchases reshaped how public companies approach digital assets on their balance sheets.
Under the leadership of chairman Tom Lee, BitMine has increasingly positioned ETH as a long-term strategic asset tied to blockchain infrastructure growth rather than short-term price speculation.
OTC Treasury Sales Become Part of Foundation Funding Strategy
The latest transaction marks the second time the Ethereum Foundation has sold ETH directly to a corporate treasury buyer through an OTC agreement. In July 2025, the organization sold 10,000 ETH to SharpLink Gaming at an average price of $2,572.37, generating approximately $25.7 million.
Those transactions form part of the foundation’s treasury management framework introduced in 2025. Under that policy, a portion of ETH reserves is periodically converted into fiat-based liquidity to maintain operational stability.
The framework targets annual spending equal to roughly 15% of treasury holdings while preserving enough reserves to sustain multiple years of activity without excessive reliance on market timing.
Staking Plans Add Another Layer to Treasury Management
The OTC sale comes shortly after the Ethereum Foundation began deploying part of its treasury into staking infrastructure. Earlier this year, the organization confirmed plans to allocate around 70,000 ETH into validators using open-source infrastructure.
That move signals a broader treasury evolution, where the foundation is not only converting portions of its holdings when needed but also seeking sustainable yield through participation in Ethereum’s validator network. By staking part of its reserves, the foundation can generate additional returns while remaining aligned with the network’s technical architecture and decentralization goals.
New Mandate Clarifies Ethereum Foundation’s Long-Term Role
The transaction also arrives during a week in which the foundation released a new institutional mandate outlining how it intends to support the Ethereum ecosystem going forward.
The document emphasizes that Ethereum should remain censorship-resistant, privacy-preserving and open source while scaling to serve a larger global user base. It also highlights user sovereignty over assets and data as a core principle that should remain protected as the network evolves.
According to the mandate, the foundation will continue focusing on core protocol upgrades, long-term research, cybersecurity and developer tooling. At the same time, it said it intends to gradually reduce its direct influence over the network, reinforcing the view that Ethereum’s long-term development should increasingly be shaped by distributed contributors rather than centralized leadership.
