TLDR
- BitMine Immersion Technologies (BMNR) acquired 5,000 ETH from the Ethereum Foundation through an over-the-counter transaction valued at approximately $10.2 million, priced at $2,042.96 per token.
- This marks the Foundation’s second direct corporate ETH sale, following a July 2025 transaction with SharpLink Gaming valued at $25.7M.
- Under Tom Lee’s leadership, BitMine has become the world’s largest publicly traded Ethereum treasury holder with over 4.5 million ETH valued at approximately $9.3 billion.
- The funds will support the Foundation’s essential activities including protocol development, ecosystem expansion initiatives, and community grants.
- The transaction follows the EF’s treasury management strategy, which allocates roughly 15% of treasury value annually while maintaining a multi-year operational reserve.
BitMine Immersion Technologies (BMNR) has acquired 5,000 ETH directly from the Ethereum Foundation through an over-the-counter transaction valued at approximately $10.2 million. The purchase price averaged $2,042.96 per ETH token.
The Foundation disclosed the transaction on Saturday through an announcement on X. The blockchain transfer will be executed from an Ethereum Foundation Safe multisignature wallet address.
Trading on NYSE American under ticker BMNR, BitMine operates under the chairmanship of Tom Lee, Fundstrat’s co-founder and a prominent advocate for corporate Ethereum treasury adoption.
Bitmine Immersion Technologies, Inc., BMNR
With more than 4.5 million ETH in its treasury, currently worth approximately $9.3 billion, BitMine has established itself as the world’s largest publicly traded company holding Ethereum.
ETH dominates BitMine’s asset portfolio. The firm also maintains approximately 195 BTC, more than $1 billion in cash reserves, and equity investments in multiple companies.
These equity holdings feature an investment in Beast Industries — the entity behind internet sensation MrBeast — following a $200 million capital injection. BitMine additionally maintains a 7% ownership position in Eightco, a company building a Worldcoin treasury.
Since mid-2025, the company has been systematically acquiring ETH, employing a strategy reminiscent of Strategy’s Bitcoin accumulation approach.
Second Corporate Treasury Transaction for EF
This represents the Foundation’s second direct sale to a corporate treasury buyer. Previously, in July 2025, the Foundation transferred 10,000 ETH to SharpLink Gaming at an average price of $2,572.37 per token, totaling approximately $25.7 million.
These transactions operate within the EF’s treasury management guidelines established in June 2025. The framework mandates periodic conversion of ETH holdings into fiat currency to sustain operational reserves.
The Foundation allocates approximately 15% of its total treasury value toward annual operating costs. Additionally, it maintains a 2.5-year operational buffer, which determines the timing and volume of ETH sales.
The revenue from this BMNR transaction will support protocol research initiatives, ecosystem development programs, and community grant distributions.
Foundation’s Staking Initiative and Strategic Direction
This sale follows closely after the Foundation revealed intentions to stake as many as 70,000 ETH utilizing open-source validator technology. This initiative aims to generate yield while strengthening the Foundation’s active involvement in network operations.
This week, the EF released a comprehensive mandate document clarifying its stewardship responsibilities within the Ethereum ecosystem. The document prioritizes decentralization, resistance to censorship, open-source innovation, and user autonomy.
The Foundation outlined its focus areas as core protocol enhancements, forward-looking research, cybersecurity measures, and developer infrastructure. It also expressed commitment to progressively reducing its centralized influence over the network’s evolution.
According to industry treasury monitoring platforms, BitMine’s current holdings exceed 4.5 million ETH.
