BitMine Buys 5,000 ETH From Ethereum Foundation in $10.2M OTC Deal

The Ethereum Foundation completed an over-the-counter (OTC) sale of 5,000 Ether (ETH) to BitMine Immersion Technologies for approximately $10.2 million, based on a price of $2,042.96 per ETH. The foundation stated that the proceeds will support core operations, including protocol R&D, ecosystem growth, and community grants. This is the second such corporate OTC sale by the foundation, following a July 2025 sale of 10,000 ETH to SharpLink Gaming. These sales align with the foundation's treasury management framework, which involves periodically converting ETH to maintain a fiat operating reserve targeting 15% annual spending. BitMine, chaired by Tom Lee, is a significant corporate holder of Ether, with over 4.5 million ETH in its treasury. The announcement follows the foundation's recent decision to begin staking a portion of its treasury and the release of a new mandate emphasizing its focus on core protocol upgrades while gradually reducing direct influence over the network.

(Source：Cointelegraph)