Ethereum Foundation Sells 5,000 ETH to BitMine as Prices Exceed $2,000

The Ethereum Foundation has completed a sale of 5,000 ETH to BitMine Immersion Technologies, a publicly traded treasury firm, in an over-the-counter transaction valued at just over $10.2 million. This sale comes as the price of Ethereum climbs above $2,000, with the average transaction price set at $2,042.96 per coin.

Key Takeaways

The Ethereum Foundation has sold 5,000 ETH to BitMine, generating over $10.2 million.
Proceeds will support operations within the Ethereum ecosystem, including research, development, and community grants.
This marks the second treasury sale by the foundation, following a previous sale of 10,000 ETH to SharpLink Gaming.
BitMine holds significant ETH assets, with over 4.5 million ETH valued at approximately $9.4 billion.
The price of ETH has risen by 8.2% in the last week and surpassed $2,100 during the sale.

Ethereum Foundation offloads 5,000 ETH to BitMine as price climbs above $2K - 1

Ethereum Foundation's Sale of 5,000 ETH

On March 14, 2026, the Ethereum Foundation confirmed through a post on X that it had finalized the sale of 5,000 ETH at an average price of $2,042.96 each. The counterparty for this over-the-counter transaction was BitMine Immersion Technologies.

The funds raised from this sale will be allocated to critical operations within the Ethereum ecosystem, which include protocol research and development, ecosystem expansion, community grant funding, and ongoing developer support.

This isn't the first time the Ethereum Foundation has engaged in such sales. Last July, the foundation sold 10,000 ETH for around $30 million to SharpLink Gaming. By distributing their treasury assets across varying market phases, the Ethereum Foundation can consistently fund its development projects without solely depending on donations or outside financial sources.

BitMine's Expanding Holdings

BitMine Immersion Technologies has established itself as one of the largest corporate holders of Ethereum globally. As reported last week, the company owns over 4.5 million ETH, which translates to approximately $9.4 billion at current market rates. With this latest acquisition from the Ethereum Foundation, BitMine's ETFs potentially increase their total holdings beyond the reported 4.5 million ETH.

ETH Price Performance

In the past week, ETH has appreciated by 8.2%, and it has seen a 2.6% increase in the last 24 hours. Assessing its performance over a more extended timeframe, the asset has risen by 8.4% within 30 days and is up 10.5% over the past year. At the moment of this transaction, ETH had crossed back above the $2,100 threshold.

The Ethereum Foundation has not announced specific price targets for potential future sales, as its treasury activities are closely aligned with funding requirements and general market trends. The confirmed OTC partner for this deal, BitMine, will now add the Ethereum Foundation's 5,000 ETH to its already substantial holdings.