The post Ethereum Foundation sells 5,000 ETH to BitMine as ETH rebounds above $2K appeared on BitcoinEthereumNews.com.

The Ethereum Foundation has sold 5,000 ETH, worth just over $10.2 million, to publicly traded treasury firm BitMine Immersion Technologies, marking the second time the foundation has offloaded part of its holdings to an Ethereum treasury company. This move is part of the Foundation’s ongoing treasury management strategy, funding core operations such as protocol research, ecosystem development, and community grants. The sale comes as Ethereum’s price has rebounded over the past week, climbing above the $2,000. The Ethereum Foundation announced the sale in a post on X, stating it sold 5,000 ETH at an average price of around $2,042.96 per coin. That puts the transaction above $10.2 million.  The foundation said the sale is intended to assist its work throughout the Ethereum ecosystem. The funds will go toward core activities, including protocol R&D, community grants, developer assistance, and other project- and network-related areas.  This is not the first time the foundation has sold ETH directly to a corporate treasury company. The foundation sold 10,000 ETH, valued at around $30 million at the time, to Sharplink in July last year, making the company the second-largest holder of Ethereum by value.  Selling portions of its treasury across different market cycles allows the Ethereum Foundation to directly fund development without relying solely on donations or other sources. BitMine remains the largest ETH treasury holder The buyer of the latest transaction, BitMine Immersion Technologies, has built one of the world’s largest corporate Ethereum holdings. As of early last week, the company said it owned more than 4.5 million ETH.  From recent market prices, those holdings are worth about $9.4 billion. And that makes BitMine the largest known Ethereum treasury company, surpassing other firms that hold the cryptocurrency as a balance-sheet asset.  BitMine is chaired by investor Tom Lee, who has repeatedly expressed strong long-term confidence…

---

Filed under: News - @ March 15, 2026 1:15 am