Ethereum’s Big Move: 5,000 ETH Sold as Price Hits $2K!

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In a move that would make even a seasoned Wall Street trader raise an eyebrow, the Ethereum Foundation has offloaded 5,000 ETH to BitMine Immersion Technologies in an over-the-counter deal worth just over $10.2 million. Because nothing says “financial responsibility” like selling your crypto stash to a company that probably owns more ETH than a blockchain enthusiast’s bank account.

  • The Ethereum Foundation offloads 5,000 ETH to BitMine as price climbs above $2K
  • The OTC transaction was priced at an average of $2,042.96 per coin
  • ETH is up 8.2% over the past seven days and 2.6% in the past 24 hours

The Ethereum Foundation offloads 5,000 ETH to BitMine as the price climbs above $2K, with the transaction priced at an average of $2,042.96 per coin. Because why keep your crypto when you can trade it for a few million dollars and pretend you’re a corporate treasury wizard?

0/ Today, the Ethereum Foundation finalized the terms of a 5,000 ETH sale at an average price of $2,042.96 via OTC.

For this sale, our OTC counterparty was @BitMNR.

– Ethereum Foundation (@ethereumfndn) March 14, 2026

The foundation confirmed the sale in a post on X. Proceeds will go toward core operations across the Ethereum ecosystem, covering protocol R&D, ecosystem development, community grant funding, and developer support. Because nothing says “community” like using your crypto to fund a few more coffee machines for the dev team.

This is the second time the foundation has sold ETH directly to a corporate treasury company. In July last year, it sold 10,000 ETH, worth around $30 million at the time to SharpLink Gaming. Because if you can’t trust a gaming company with your crypto, who can you trust?

Selling portions of its treasury across different market cycles allows the Ethereum Foundation to fund ongoing development without relying entirely on donations or external sources. Because who needs a steady income when you can gamble on market fluctuations?

Ethereum Foundation offloads 5,000 ETH to BitMine

BitMine Immersion Technologies has built one of the largest corporate Ethereum positions in the world. If they’re not careful, they’ll end up with more ETH than a blockchain conference in 2023.

As of early last week, the company reported owning more than 4.5 million ETH. At recent market prices, those holdings are worth approximately $9.4 billion, placing BitMine ahead of other firms that hold ETH on their balance sheets. Because nothing says “financial stability” like holding billions in a cryptocurrency that could crash at any moment.

ETH climbs above $2,100 as weekly gains hold

ETH gained 8.2% over the past seven days and 2.6% in the past 24 hours, per available price data. The 30-day gain stands at 8.4%, with a one-year increase of 10.5%. The asset crossed back above the $2,100 level at the time of the transaction. Because if it’s not trending, why bother?

The Ethereum Foundation has not disclosed a specific price target for future sales. Its approach ties treasury activity to funding needs and broader market conditions. Because transparency is overrated.

The OTC counterparty for this deal was BitMine, which the foundation confirmed in the same X post. Because why not? The Ethereum Foundation has clearly mastered the art of corporate crypto jargon.

With BitMine adding the foundation’s 5,000 ETH to its existing position, its total holdings could rise further above the 4.5 million ETH it reported last week. Because if you can’t beat them, join them-and then sell them your crypto.

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2026-03-15 19:44