The recent treasury transaction by the Ethereum Foundation has drawn market attention. The organization confirmed that as part of its ongoing funding strategy, it has sold Ethereum directly to a publicly listed company through an over-the-counter (OTC) transaction.
BitMine Expands Corporate Ethereum Reserves
BitMine Immersion Technologies has further expanded its corporate Ethereum strategy through this acquisition, solidifying its position among cryptocurrency institutional holders. The company trades on the NYSE American under the ticker symbol BMNR and operates under the leadership of Fundstrat strategist Tom Lee, who serves as the company's chairman.
According to treasury tracker data, BitMine holds over 4.5 million ETH, valued at approximately $9.3 billion based on recent market prices.
The company began actively accumulating Ethereum in mid-2025, with its treasury strategy drawing on the experiences of large companies in allocating Bitcoin. When the Ethereum Foundation disclosed this transaction, the price of Ethereum was close to $2,075, with the negotiated sale price being in line with the prevailing market prices across major exchanges.
Ethereum Foundation Manages Treasury Assets via OTC Transactions
A previous transaction valued at approximately $25.7 million followed the treasury framework released by the foundation in June 2025. This policy allows the organization to periodically convert a portion of its crypto assets into funds to support operational expenses.
The proceeds from these sales are used to support protocol research, ecosystem development, and grants distributed to developers building applications on the Ethereum network. The treasury framework also stipulates that annual expenditures should account for about 15% of the foundation's held assets while maintaining reserves sufficient to cover approximately two and a half years of operations.