BitMine buys 5,000 ETH in a $10.38M OTC deal, signaling steady corporate accumulation of Ether.
Corporate demand for Ether continues to grow as companies quietly accumulate the asset. BitMine Immersion Technologies has now added another large purchase through a private deal with the Ethereum Foundation. The transaction allowed a multi-million-dollar ETH transfer without disturbing exchange markets.
Corporate Demand for Ether Grows as BitMine Buys 5,000 ETH
Ethereum Foundation recently completed an over-the-counter sale of 5,000 ETH to BitMine Immersion Technologies. The transaction was valued at about $10.38 million based on an average sale price of $2,042.96 per ETH.
Foundation representatives said the on-chain transfer will originate from an Ethereum Foundation Safe multisig wallet. Shortly after the agreement was finalized, details of the transaction were shared on X.
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
Over-the-counter transactions allow large crypto transfers without placing sell orders on public exchanges. As a result, large movements can occur without causing sharp price swings in the market.
Such deals also help prevent heavy short-term selling pressure that could affect exchange liquidity. Moreover, BitMine served as the counterparty in the transaction and has built a reputation for steadily accumulating Ether.
Market observers often compare BitMine’s strategy to the corporate Bitcoin accumulation model associated with Michael Saylor and Strategy. The digital asset firm has indicated no intention to sell its Ether holdings in the near term.
As such, the transaction should not create immediate supply pressure on the open market.
Ethereum Foundation Backs Research and Grants With Proceeds From Sales
Interestingly, this deal marks the second time the Ethereum Foundation has sold Ether directly to a corporate treasury buyer. Earlier in July 2025, the foundation sold 10,000 ETH to SharpLink Gaming.
The average price in that transaction reached $2,572.37 per ETH, giving the deal a value of about $25.7 million.
Proceeds from the latest sale will support the foundation’s core operations. Resources will cover protocol research, ecosystem development, and community grant programs.
Meanwhile, the transaction follows the foundation’s treasury policy released in June 2025. Under that framework, roughly 15% of the foundation’s holdings may be used each year to cover operating expenses.
In addition, the policy requires the organization to maintain a financial buffer. That reserve is designed to fund operations for about two and a half years even without new revenue.
Alongside the transaction, the foundation released a governance manifesto outlining stricter ideological standards. The framework is tied to decentralization principles and open-source development.
Protocols viewed as surveillance-friendly or dependent on centralized control fall outside the foundation’s support criteria. At the time of writing, Ether trades near $2,083, posting a weekly gain of more than 6%. Even so, the asset remains more than 50% below its all-time high.
