Ethereum Foundation sells 5,000 ETH to Tom Lee's BitMine for $10.2 million

On March 14, 2026, the Ethereum Foundation announced it sold 5,000 ETH in a $10.2 million OTC deal to BitMine Immersion Technologies, a company led by Tom Lee. This transaction is part of the Foundation's ongoing treasury management strategy to maintain a balance between ETH and fiat-like assets. The funds raised will be used to support the Foundation's core activities such as protocol research and ecosystem grants, ensuring continued development and growth of the Ethereum ecosystem.