Ethereum Foundation He reportedly completed an over-the-counter transaction involving 10,000 ETH tokens sold directly to him. BitMine Immersion Technologies (New York Stock Exchange: BMNR). Public firm headed by crypto analyst Tom Leepurchased the assets at an average price of $2,387 per token, resulting in a total value of approximately $23.87 million.
This represents the company’s second direct sale Ethereum Foundation It demonstrates BitMine’s ongoing pattern of strategic collaboration between core network backers and aggressive institutional buyers.
0/ Today the Ethereum Foundation closed terms for the sale of 10,000 ETH via OTC at an average price of $2,387.
Our OTC equivalents for this sale @BitMNR.
— Ethereum Foundation (@ethereumfndn) April 24, 2026
Funds from the sale will directly support core operations, the foundation said.
These include the ongoing protocol research and development, ecosystem expansion grants, and various community funding programs.
process It originated from a multi-signature wallet controlled by the Foundation, which is consistent with its established approach to responsibly manage reserves while minimizing market disruptions.
At the time of the deal, ETH was trading around $2,313, reflecting modest daily declines in broader market conditions.
This latest transfer aligns with BitMine’s goal of building one of the largest institutional Ethereum treasuries.
The company has repeatedly signaled its goal of accumulating up to 5% of the total ETH supply, positioning itself as a major long-term holder.
By purchasing ETH through these structured opportunities BitMine minimizes slippage rather than open market purchases, demonstrating institutional belief in Ethereum’s fundamentals.
New blockchain adds to on-chain bullish momentum analytical It shows that major institutional players are increasing their participation in Ethereum’s proof-of-stake mechanism.
Grayscale Investments and BitMine have collectively moved approximately $500 million worth of ETH into staking in the last 24 hours. data Watched by Arkham Intelligence.
Grayscale alone deposited 102,400 ETH, worth approximately $237 million, in 32 separate transfers routed through Coinbase Prime.
BitMine is already the largest company in the world Ethereum The staker and owner locked up more than 70% of the massive ETH position (about 3.5 million tokens worth billions of dollars) to earn staking returns.
These staking entries reduce the circulating supply and create stable returns for the entities involved, strengthening Ethereum’s economic security model.
BitMine is aggressive stretching Pushing, in particular, highlights the shift from pure accumulation to active network participation, potentially increasing validator decentralization and protocol flexibility.
Taken together, the Foundation’s measured ETH The sell-off and parallel wave of high-value staking underscore the maturation phase for Ethereum.
While the foundation continues to fund innovation through selective treasury adjustments, institutional giants like BitMine and grayscale They are doubling down on long-term bets through direct holdings and return-generating commitments. Such activities can help ensure stability ETHIt supports supply dynamics and network health even if price fluctuations continue.
