Ethereum Foundation offloads 5,000 ETH to BitMine in $10M OTC transaction as the world’s largest ETH treasury firm continues aggressive accumulation.

The Ethereum Foundation has sold 5,000 ETH to BitMine Immersion Technologies in an over-the-counter (OTC) transaction worth just over $10 million, continuing a pattern of treasury diversification while BitMine consolidates its position as the largest corporate holder of ether. The Foundation said the sale, executed at an average price of about $2,042.96 per ETH, is intended to fund its core operations, including protocol research and development, ecosystem support, and community grant programs. According to the Foundation’s public statement on X, the deal was structured as an OTC trade with BitMine rather than via open-market selling, a method that can reduce direct market impact while providing predictable liquidity. This is at least the second instance of the Foundation selling ETH directly to a corporate treasury; in 2025 it sold 10,000 ETH to SharpLink Gaming, and in 2026 it has followed the 5,000 ETH sale with additional 10,000 ETH tranches to BitMine as part of its broader treasury management strategy. BeInCrypto reports that after the March 5,000 ETH transaction, the Foundation’s remaining ETH treasury stood just above 200,000 ETH, positioning these sales as meaningful but not exhaustive relative to its holdings. For BitMine, chaired by analyst Tom Lee, the purchase adds to what has become one of the world’s largest ETH corporate treasuries: the firm reported holding more than 4.47–4.5 million ETH, valued around $9–10 billion at recent prices, and has articulated an ambition to control roughly 5% of the circulating ETH supply. A large share of BitMine’s ETH is staked—over 4 million ETH according to recent on-chain and media data—making it a significant participant in Ethereum’s proof-of-stake security and influencing liquid supply dynamics. The repeated sales to a single, heavily concentrated corporate buyer have drawn scrutiny and debate within the Ethereum community, both over the Foundation’s pace of monetizing its treasury and BitMine’s rapid accumulation, which some view as raising questions around decentralization, treasury governance, and long‑term ecosystem resilience. "entities":["Ethereum Foundation","Ethereum (ETH)","BitMine Immersion Technologies","BitMine","Tom Lee","SharpLink Gaming","StrategicEthReserve"]}`

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• BitMine
• Ethereum
• Ethereum Treasury
• Accumulation