BitMine Purchases 5,000 ETH from Ethereum Foundation in OTC Deal

OTC sale valued at about $10.22 million at $2,042.96 per ETH to BitMine, with proceeds allocated to protocol development, ecosystem growth, and community programs.

Rich by Coin

2026-03-15

The Ethereum Foundation completed an over-the-counter sale of 5,000 ETH at an average price of $2,042.96 per ETH, for a total value of about $10.22 million. The counterparty was BitMine, the largest ETH holder.

BitMine stated in a separate notice that it was pleased the Foundation would sell ETH at the agreed price and that the sale would support ongoing Foundation activities, with plans to expand its ETH holdings. The buyer described the deal as a strategic liquidity move aligned with the Foundation’s mission.

The Ethereum Foundation said proceeds would be used to fund protocol research and development, ecosystem development, and community support programs. This OTC transaction underscores continued institutional involvement and liquidity within the Ethereum ecosystem.