Ethereum Foundation sells 5,000 ETH to Tom Lee’s BitMine in $10 million OTC deal
The Ethereum Foundation sold 5,000 ETH worth $10.2 million to BitMine, led by Tom Lee, in an over-the-counter deal to fund core operations.Summary
The Ethereum Foundation finalized a $10.2 million over-the-counter (OTC) sale of 5,000 ETH to BitMine Immersion Technologies, a publicly traded ETH treasury company chaired by Fundstrat’s Tom Lee. The average price was $2,042.96 per ETH. This marks the second time the EF has sold ETH directly to a corporate treasury buyer via OTC, following a similar sale to SharpLink Gaming in July 2025. Proceeds from the sale will fund the foundation’s core operations, including protocol research and development, ecosystem development, and community grants, in line with its treasury policy established in June 2025. The OTC approach was chosen to avoid market sell pressure, unlike a previous plan to sell via centralized exchanges which drew community criticism. The Ethereum Foundation also recently began staking a portion of its treasury.
(Source：The Block)