Ethereum Foundation is selling đź’°

The Ethereum backer is accelerating its ETH sales, with top treasury firm BitMine being the biggest beneficiary.

Author

Andrew Hayward
May 02, 2026

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đź“ť What you need to know

Who’s buying up Ethereum every chance it gets? BitMine Immersion Technologies, the largest ETH treasury with $11.7 billion worth of the coin. And who’s selling? Lately, it’s been the Ethereum Foundation, which said Friday that it sold another batch of 10,000 ETH over-the-counter to the firm for the second straight week.

BitMine has now picked up a total of 25,000 ETH directly from the Foundation’s own coffers in the last couple months, or nearly $58 million worth at the current price. While that’s a small sliver of BitMine’s overall buys, it comes at a time when the Foundation is trying to raise cash to fund operations—and has found a very willing buyer. (Disclaimer: BitMine Chairman Tom Lee is an investor in Decrypt’s parent company, Dastan.)

Ethereum Foundation Sells $23 Million More in ETH to Tom Lee's BitMine

For the second straight week, the Ethereum Foundation has unloaded 10,000 ETH—about $23 million worth—to top treasury firm, BitMine.

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