Bitmine Buys Another 10,000 ETH From Ethereum Foundation
The Ethereum Foundation completed a second 10,000 ETH OTC sale to Bitmine in a week, executed at $2,292.15 per ETH.
The Ethereum Foundation disclosed a second 10,000 ETH sale via an over-the-counter (OTC) deal with Bitmine Immersion Technologies Inc., executed at an average price of $2,292.15 per ETH. The transaction comes exactly one week after the Foundation completed an identical 10,000 ETH OTC sale with Bitmine last Friday.
Bitmine is the world's largest Ethereum treasury company, holding over 5 million ETH in its portfolio and over 3.7 million of that ETH staked. The Ethereum Foundation cited funding for core operations as the reason for the sales, including protocol research and development, ecosystem development, and community grants. In Q1 2026 alone, the Foundation distributed $9.8 million in grants.
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Bitmine Crosses 5 Million ETH Milestone
Bitmine now holds 5,078,386 ETH worth approximately $12 billion, with 73% staked through MAVAN.
Bitmine Immersion Technologies crossed 5 million ETH in holdings, announcing a total of 5,078,386 ETH valued at approximately $12 billion at current prices. The milestone makes Bitmine the largest Ethereum treasury in the world and represents 4.21% of the total ETH supply, putting the company 84% of the way toward its stated goal of acquiring 5% of all ETH in circulation.
Of the 5.078 million ETH held, 3,701,589 ETH, roughly 73% of its total holdings, is currently staked, generating annualized staking revenues of $264 million at a yield of 3.033%. At full deployment, Bitmine projects annual staking rewards of approximately $363 million. The staking operations run through MAVAN, Bitmine's institutional-grade validator network, which the company recently launched and plans to open to external institutional investors and custodians.
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