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Ethereum Foundation Sells 5,000 ETH to BitMine in $10.2 Million OTC Deal

Ethereum Foundation Sells 5,000 ETH to BitMine in $10.2 Million OTC Deal

According to BitMine Immersion Technologies, the purchase forms part of a much larger Ethereum treasury that now includes 4.596 million ETH, substantial staking activity, and plans for new validator infrastructure.

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Fact Check
The statement is accurately supported by multiple high-authority news organizations including CoinDesk and The Block, which cite an official announcement from the Ethereum Foundation. The specific details of the 5,000 ETH amount, the $10.2 million valuation, and the counterparty BitMine Immersion Technologies are consistent across all reports.
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Summary

BitMine Immersion Technologies said in an official announcement that its crypto assets, cash and moonshots total about $11.5 billion, including 4.596 million ETH, 196 BTC and $1.2 billion in cash. The company said it bought 60,999 ETH in the past week, has staked about 3.04 million ETH, and estimates roughly $180 million in annual staking income at a 2.81% yield. The update also confirms that BitMine acquired 5,000 ETH from the Ethereum Foundation, adding context to the previously reported $10.2 million over-the-counter transaction. BitMine said it plans to launch MAVAN staking infrastructure in 2026.

Terms & Concepts
  • ETH: ETH is the native asset of the Ethereum blockchain, used for transaction fees, staking, and other network activity.
  • OTC Deal: An over-the-counter trade is executed directly between counterparties rather than through a public exchange, often to reduce market impact.
  • Staking: Staking involves locking eligible crypto assets to help support blockchain operations and earn rewards in return.