Share this article
Ethereum Foundation finalizes sale of 10,000 ether to BitMine as part of its treasury strategy
The latest transaction follows a similar March deal in which the foundation sold 5,000 ETH to BitMine, raising roughly $10.2 million.
May 1, 2026, 6:16 p.m. 2 min read
What to know:
- The Ethereum Foundation finalized the sale of 10,000 ETH to BitMine at an average price of $2,292.15 (~$22.9M), marking another treasury disposition following similar deals earlier this year.
- Proceeds will fund operations, such as R&D and ecosystem grants, as part of its ongoing treasury management strategy and will be executed via a disclosed multisig wallet.
The latest transaction follows a similar March deal in which the foundation sold 5,000 ETH to BitMine at about $2,042 per ETH, raising roughly $10.2 million.
Like prior sales, the Ethereum Foundation said proceeds will go toward core operations & activities, including protocol research and development, ecosystem growth and community grants, a longstanding funding model for the organization.
The foundation added that the transaction is part of its formal treasury management strategy, under which ETH holdings are periodically converted into fiat to maintain operating runway and reduce market impact. These deals are typically executed OTC to avoid disrupting spot markets.
