Key Highlights
The Ethereum Foundation executed a 5,000 ETH OTC sale to BitMine at an average price of $2,042.96, totaling about $10.2M.
The sale aligns with EF’s treasury approach of maintaining a 2.5-year operating buffer and keeping annual spending near 15% of treasury value.
BitMine disclosed holdings of ~4.53M ETH as of March 8, positioning it as the largest publicly traded ether treasury firm, according to its own filings.
The Ethereum Foundation completed an over-the-counter sale of 5,000 ETH to BitMine Immersion Technologies, the publicly traded firm chaired by Fundstrat’s Tom Lee, at an average price of $2,042.96 per ETH for roughly $10.2 million.
The proceeds are intended to support EF operations, including protocol R&D and ecosystem grants, consistent with its reserve-management policy that balances ETH holdings with fiat-like assets to cover operating needs and maintain a multi-year buffer.
BitMine has been building a large Ether treasury position. In a March disclosure, the company reported holdings of 4,534,563 ETH as of March 8, alongside 195 Bitcoin, $1.2B in cash, and equity stakes, including a $200M position in Beast Industries.
The company has also outlined plans to expand its staking operation, including a “Made in America Validator Network” initiative it previously described as part of its strategy.
