Ethereum Foundation Sells 5,000 ETH to BitMine in OTC Deal as Ether Holds Above $2K

• Ethereum Foundation sold 5,000 ETH to BitMine through an OTC deal.
• The transaction averaged about $2,042 per coin.
• ETH has risen more than 8% over the past week.

The Ethereum Foundation has sold 5,000 units of Ethereum to BitMine Immersion Technologies through an over the counter transaction as the cryptocurrency moved above the $2,000 level.

According to a statement shared by the foundation on social media, the transaction was priced at an average of $2,042.96 per ETH. The sale occurred as the broader crypto market strengthened, helping Ether regain momentum.

Proceeds from the transaction will support the foundation’s core activities across the Ethereum ecosystem. These include protocol research and development, ecosystem growth initiatives, community grants, and developer support programs.

This marks the second known instance of the foundation selling ETH directly to a corporate treasury company. In July last year, it transferred 10,000 ETH to SharpLink Gaming in a deal valued at roughly $30 million at the time.

The foundation has historically sold portions of its treasury during various market cycles to finance long term development. This approach allows it to fund operations without relying solely on donations or external capital.

BitMine has built a large corporate position in Ethereum. The company reported holdings exceeding 4.5 million ETH earlier this month. At current market prices, the position is valued at roughly $9.4 billion, placing the firm among the largest corporate holders of Ether.

Meanwhile, market data shows Ethereum maintaining positive momentum. ETH has gained 8.2% over the past seven days and 2.6% in the past 24 hours, with the asset trading above $2,100 during the transaction period.

The latest sale highlights the Ethereum Foundation’s strategy of periodically converting part of its crypto reserves to fund ecosystem development. At the same time, strong institutional demand from firms such as BitMine suggests continued corporate interest in Ethereum exposure.

Market participants will likely watch whether sustained price strength encourages further treasury sales or accumulation by institutional investors.