Ethereum Foundation raises about $10 million by selling 5,000 ETH to Bitmine

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Ethereum Foundation raises funds

Deal details and the foundation’s strategy

Details of the transaction were disclosed in an official statement by the Ethereum Foundation. The document notes that the 5,000 ETH were sold through an OTC trading platform, with Bitmine acting as the buyer.

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Blockchain data also confirms the transfer. According to analytics platform Arkham Intelligence, the transaction occurred between a wallet linked to the foundation and an address associated with Bitmine. The foundation clarified that the operation is part of its treasury management strategy.

“This sale funds the EF’s core operations & activities, including protocol R&D, ecosystem development, community grant funding and more.”

Following the transaction, the Ethereum Foundation remains one of the largest ETH holders. Arkham estimates that the organization still controls around 170,000 ETH, worth roughly $356 million at current market prices. At the same time, the foundation has begun allocating part of its reserves to staking. Up to 70,000 ETH may eventually be deployed in validators, providing an additional source of income and strengthening the foundation’s financial sustainability.

What the deal means for the Ethereum ecosystem

The purchase fits into Bitmine’s broader strategy of accumulating Ethereum. Since mid-last year, the company has been steadily expanding its ETH reserves. It now reportedly holds more than 4.5 million coins, valued at around $9.5 billion at current market prices.

A significant portion of these assets is already staked. According to the company, more than 3 million ETH are operating through validators, generating approximately $174 million in annual staking revenue. Once the MAVAN validator network is fully deployed, the potential annual yield could rise to around $259 million.

Transactions like this are significant for the market because they allow the Ethereum Foundation to raise funds without putting direct pressure on exchange prices. At the same time, the growing share of institutional ETH holders is gradually reshaping the ecosystem, as large corporate treasuries become increasingly active participants in staking and liquidity management.

Earlier, the Ethereum Foundation’s board also released a new strategic document called EF Mandate, intended to define the organization’s role within the broader Ethereum ecosystem. The foundation describes the document as a combination of a charter, a manifesto, and an internal operational guide. It formalizes the foundation’s position within the ecosystem and outlines principles for allocating resources, supporting developers, and advancing Ethereum’s infrastructure.

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