BitMine acquired 15,000 ETH directly from the Ethereum Foundation through two over-the-counter transactions worth about $34.08 million. The first sale took place in March 2026, when the Foundation sold 5,000 ETH at an average price of $2,042.96, generating roughly $10.21 million. The second came in April 2026, with 10,000 ETH sold at an average of $2,387 for about $23.87 million.
BitMine’s weekly buying spree pushed reserves above 5 million ETH
The Foundation deals were only a small piece of BitMine’s broader accumulation plan. Recent data cited in the source shows the company made its largest single-week purchase last week, adding 101,901 ETH and lifting total reserves to 5,078,386 ETH. That amount now represents more than 4.2% of Ethereum’s circulating supply, bringing BitMine closer to its stated 5% target.
The 15,000 ETH purchased from the Foundation accounts for less than 0.3% of BitMine’s overall holdings. The figure makes clear that most of the company’s ETH has been sourced elsewhere.
The Foundation says ETH sales are part of treasury management
The source describes the Ethereum Foundation as using its reserves to support research, grants, and core protocol development. Since 2025, its reserve policy has aimed to preserve holdings while still allowing ETH sales when needed. In recent transactions, it chose private OTC sales instead of using public exchanges.
The Foundation stated: “Sales by the Foundation are part of our fund management strategy and do not reflect a changed outlook on Ethereum. ETH sales are seen as a means of generating operational resources when necessary.” According to the same material, the two sales to BitMine were the Foundation’s only significant ETH transfers recorded in 2026.
More than 3.7 million ETH has already been staked
BitMine is not treating Ethereum only as a balance sheet asset. The company has staked more than 3.7 million ETH on the network, shifting a large share of its position from passive custody into on-chain participation. In practice, that turns a major part of its ETH reserves into yield-generating collateral.
CryptoAppsy data in the source lists the April purchase at an average of $2,387 per ETH and the March transaction at $2,042.96. Combined, the $34.08 million in direct sales stands among the larger foundation-to-corporate ETH transfers recorded this year.