The Ethereum Foundation recently sold 5,000 Ethereum (ETH) to the publicly listed company BitMine Immersion Technologies for over $10.2 million, with the transaction conducted as an over-the-counter (OTC) deal. The average price for this transaction was $2,042.96, completed on March 14, 2026. Notably, this marks the second time the Ethereum Foundation has directly sold ETH to a corporate treasury, having previously sold 10,000 ETH to SharpLink Gaming for approximately $30 million last July.
By selling portions of its assets during different market cycles, the Ethereum Foundation is able to fund its ongoing development without relying solely on donations or external funding. BitMine Immersion Technologies has now become one of the largest corporate holders of Ethereum in the world. Just last week, the company reported that it holds over 4.5 million ETH, which, at current market prices, is valued at approximately $9.4 billion, surpassing other companies holding ETH.
At the time of this transaction, the price of ETH had once again surpassed the $2,100 mark, rising 8.2% over the past seven days and 2.6% in the last 24 hours. The increase over the past 30 days is 8.4%, and it has risen 10.5% over the past year. The Ethereum Foundation has not disclosed specific price targets for future sales, with its strategy being to adjust asset management based on funding needs and broader market conditions.
With BitMine incorporating these 5,000 ETH into its existing holdings, its total holdings may further exceed the previously reported 4.5 million ETH.