{"id":96750,"date":"2026-05-02T12:43:47","date_gmt":"2026-05-02T09:43:47","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=96750"},"modified":"2026-05-02T12:45:12","modified_gmt":"2026-05-02T09:45:12","slug":"ethereum-foundation-sells-another-10000-eth-to-bitmine","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ethereum-foundation-sells-another-10000-eth-to-bitmine\/","title":{"rendered":"Ethereum Foundation Sells Another 10,000 ETH to BitMine"},"content":{"rendered":"<p>The Ethereum Foundation has completed its third over-the-counter sale of ETH to BitMine Immersion Technologies. Tom Lee&#8217;s firm acquired 10,000 ETH at an average price of $2,292 ($22.9 million).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">0\/ Today, the Ethereum Foundation finalized the terms of a 10,000 ETH sale at an average price of $2,292.15 via OTC.<\/p>\n<p>For this sale, our OTC counterpart was <a href=\"https:\/\/twitter.com\/BitMNR?ref_src=twsrc%5Etfw\">@BitMNR<\/a>.<\/p>\n<p>\u2014 Ethereum Foundation (@ethereumfndn) <a href=\"https:\/\/twitter.com\/ethereumfndn\/status\/2050260388046836177?ref_src=twsrc%5Etfw\">May 1, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe transaction funds the foundation&#8217;s core operations and activities, including protocol research and development, ecosystem growth, community grant funding, and more,\u201d stated representatives of the Ethereum Foundation.<\/p>\n<\/blockquote>\n<p>The sale followed a nearly identical <a href=\"https:\/\/x.com\/ethereumfndn\/status\/2047685166966161659\">transaction<\/a> of 10,000 ETH on April 24, when the average price was about $2,387.<\/p>\n<p>The first transaction between the Ethereum Foundation and BitMine <a href=\"https:\/\/forklog.com\/en\/news\/strategy-acquires-22337-btc-for-1-57-billion\">occurred<\/a> in March, with the firm purchasing 5,000 ETH at approximately $2,043.<\/p>\n<p>According to the foundation, these sales are part of \u201ctreasury management activities\u201d in line with previously published policy.<\/p>\n<p>As per <a href=\"https:\/\/www.strategicethreserve.xyz\/\">SrategicEthReserve<\/a>, as of May 2, BitMine holds 4.5 million ETH worth over $10 billion. The firm is the largest corporate holder of the altcoin, controlling 3.8% of the supply.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-269352bd16369afc-3316161872490741.webp\" alt=\"image\" class=\"wp-image-279423\"\/><figcaption class=\"wp-element-caption\">Source: SrategicEthReserve.<\/figcaption><\/figure>\n<p>The firm also leads in the volume of assets locked in <a href=\"https:\/\/forklog.com\/en\/news\/what-is-staking-and-how-to-make-money-from-it\">staking<\/a>, utilizing over 4 million ETH.<\/p>\n<p>The transaction drew criticism from the Ethereum community, with users questioning the purpose of the sale.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWhy do you need $46 million in two weeks? How much are you spending and on what? Why doesn&#8217;t any developer accept ETH directly as payment?\u201d <a href=\"https:\/\/x.com\/veryHighLander\/status\/2050272776339026046\">wrote<\/a> one community member.<\/p>\n<\/blockquote>\n<p>The foundation has previously faced discontent over its transactions. Last year, the organization <a href=\"https:\/\/blog.ethereum.org\/2025\/06\/04\/ef-treasury-policy\">pledged<\/a> to limit sales.<\/p>\n<p>In the first quarter of 2026, Bitmine Immersion Technologies reported a net loss of $3.82 billion. For comparison, the figure was $1.15 million a year earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ethereum Foundation has completed its third over-the-counter sale of ETH to BitMine Immersion Technologies. Tom Lee&#8217;s firm acquired 10,000 ETH at an average price of $2,292 ($22.9 million).<\/p>\n","protected":false},"author":1,"featured_media":96751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Ethereum Foundation sells 10,000 ETH to BitMine at $2,292 each.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1473,919],"class_list":["post-96750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-reserve-currencies","tag-tom-lee"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"Ethereum Foundation sells 10,000 ETH to BitMine at $2,292 each.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=96750"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96750\/revisions"}],"predecessor-version":[{"id":96752,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96750\/revisions\/96752"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/96751"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=96750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=96750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=96750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}