Tom Lee's BitMine Buys $10.2 Million in ETH Directly From Ethereum Foundation
The Ethereum Foundation said Saturday that it sold 5,000 ETH for approximately $10.2 million to Tom Lee's BitMine Immersion Technologies.
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The Ethereum Foundation said Saturday that it sold 5,000 ETH for approximately $10.2 million to Tom Lee's BitMine Immersion Technologies.
The deal is the EF's second known OTC sale to a corporate buyer, following a 10,000 ETH sale to SharpLink Gaming in July 2025.
The funds will support the EF's core operations, including protocol R&D and ecosystem grants, as part of a treasury strategy to balance ETH and fiat-like assets.
The non-profit organization said the goal is to make Ethereum so decentralized that it could function even if the foundation ceases to exist.
The Ethereum Foundation mandate codifies Ethereum’s core “CROPS” principles: censorship resistance, open source, privacy and security.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
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The document comes at a point of transition for the organization, following shifts in the blockchain's technical roadmap and the resignation of a co-executive director.
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The iShares Staked Ethereum Trust will distribute staking rewards on a monthly basis from institutional-grade Ethereum validators run by Figment, Galaxy Digital and Attestant.