Ethereum Foundation offloads 5,000 ETH to Tom Lee's BitMine for $10.2M to fund protocol R&D and grants

The Ethereum Foundation sold 5,000 ETH in an over‑the‑counter deal to Tom Lee’s BitMine Immersion Technologies for approximately $10.2 million, the foundation said, marking a direct treasury sale to a corporate buyer ^{[1] [2]}.

The foundation said proceeds will support core operations, including protocol research and development and ecosystem grant programs, as part of a treasury strategy intended to balance ETH holdings with fiat‑like assets and fund ongoing work on the protocol ^{[1] [3]}.

The sale came as ether prices regained levels above $2,000 and was reported by outlets noting BitMine’s role as a publicly traded treasury firm that has been adding ETH to its holdings ^{[4] [5]}.

The transaction underscores the foundation’s continued use of selective asset sales to fund operations and support the Ethereum ecosystem while converting a portion of its treasury into liquid, fiat‑aligned capital ^[1].