Ethereum Foundation ETH Sales Reach $47M as BitMine Expands Treasury Holdings

Ethereum Foundation Completes Third OTC ETH Sale

Ethereum Foundation has completed a third over-the-counter sale of 10,000 Ethereum to BitMine Immersion Technologies at an average price of $2,292, worth about $22.9 million. The latest deal brings total ETH sold in the past week to roughly $47 million, following a similar 10,000 ETH sale at $2,387 and an earlier March transaction of 5,000 ETH at $2,043.

The Foundation stated the proceeds fund core operations including protocol R&D, ecosystem development, and community grants. The activity also follows the unstaking of 17,035 ETH worth around $40 million, signaling a shift away from its previously stated goal of maintaining 70,000 staked ETH.

Community Concerns Over Selling Pressure

The repeated sales have sparked criticism, with users questioning funding needs and transparency. ETH is trading near $2,303, still over 53% below its all-time high of $4,953.

BitMine Expands Ethereum Holdings Aggressively

BitMine Immersion Technologies has accumulated nearly 5 million ETH, including a recent 101,901 ETH weekly purchase. About 83% of its holdings, or 4.19 million ETH, are now staked, highlighting strong institutional accumulation and yield-focused strategy.