The Ethereum Foundation has finalized an over-the-counter (OTC) transaction involving the sale of 5,000 Ether to BitMine Immersion Technologies. This deal is valued at approximately $10.2 million, based on the price of $2,042.96 per ETH.

As per a Saturday post on X, the foundation stated that the proceeds would be utilized to support essential operations, including protocol research, ecosystem development, and community grant programs. This on-chain transfer will commence from the Ethereum Foundation’s Safe multisignature wallet.

BitMine, which trades publicly on the NYSE American under the ticker BMNR, has emerged as a significant corporate entity holding Ether. Chaired by Tom Lee, co-founder of Fundstrat, the company owns over 4.5 million ETH, which is approximately valued at $9.3 billion, according to industry treasury trackers.

Ether Treasury
Top 6 Ether treasury firms. Source: Ethereum Treasuries

The organization has consistently acquired Ether since mid-2025, employing a strategy similar to that of Bitcoin accumulation schemes.

Second ETH OTC Sale by EF

This sale marks the second occasion on which the Ethereum Foundation has sold ETH straight to a corporate treasury through an OTC arrangement. In July 2025, the foundation sold 10,000 ETH to SharpLink Gaming at an average price of $2,572.37, adding up to around $25.7 million.

These systematic sales are a component of the Ethereum Foundation’s treasury management framework initiated in June 2025. This policy allows for the periodic conversion of a portion of ETH holdings to uphold a fiat-based operating reserve.

The notice follows the foundation’s decision to begin staking a part of its treasury, with intentions to allocate around 70,000 ETH to validators using open-source infrastructure.

EF Releases New Mandate

Recently, the Ethereum Foundation released a new mandate outlining its responsibilities in managing the Ethereum ecosystem. It stresses the importance of decentralization and user sovereignty over both assets and data, noting that Ethereum maintains its status as censorship-resistant, open-source, and privacy-preserving while expanding for global adoption.

The foundation aims to prioritize core protocol upgrades, long-term research, cybersecurity, and developer tools while gradually scaling back its direct influence over the network.