Ethereum Foundation Dumps Another $23M ETH as Bitmine Doubles Down Big

• Ethereum Foundation sells millions in ETH as Bitmine expands staking
• Bitmine ramps up Ethereum staking while foundation continues large sales
• Massive ETH sales meet aggressive accumulation in shifting market dynamics

Selling activity from the Ethereum Foundation has intensified again, as another large ETH transfer was completed this week, while Bitmine Immersion Technologies continues to expand its exposure through an aggressive accumulation and staking strategy that is drawing market attention.

On Friday, the Ethereum foundation sold 10,000 ETH to Bitmine through an over-the-counter transaction that carried an average execution price of $2,292.15 per ETH, which translated to approximately $23 million in proceeds and pushed the total value of ETH sold to the same buyer within one week to nearly $47 million after a similar transaction was completed just days earlier.

Moreover, the foundation confirmed that these funds will be directed toward essential internal functions, including protocol research, ecosystem development, and community grant funding, which remain critical components supporting Ethereum’s long-term growth and ongoing network upgrades amid rising competition across the blockchain sector.

However, while the foundation continues converting a portion of its holdings into operational liquidity, Bitmine is moving decisively in the opposite direction by increasing its long-term exposure and committing more assets into Ethereum’s staking framework to generate consistent yield.

Also Read: XRP Whales Lose Grip as Binance Outflow Shift Signals Major Move Ahead

Bitmine Expands Staking Position as Accumulation Accelerates

According to Lookonchain, Bitmine recently added another 162,088 ETH into its staking pool shortly after completing the latest purchase, bringing its total staked holdings to 4,194,029 ETH, which is currently valued at approximately $9.5 billion based on prevailing market prices. Significantly, this means that roughly 83% of Bitmine’s total Ethereum reserves are now locked in staking contracts, compared to about 70% just one week earlier, highlighting a rapid shift toward yield-focused positioning that reflects broader institutional confidence in Ethereum’s long-term earning potential.

Meanwhile, Ethereum recorded a modest price increase of more than 2% during the same trading period, reaching around $2,309, while the use of over-the-counter transactions helped minimize direct volatility in the open market. Additionally, the Ethereum Foundation has been refining its treasury management strategy by gradually incorporating staking and decentralized finance participation, aiming to diversify revenue streams and reduce reliance on repeated asset sales.

The latest transactions highlight a growing divergence in strategy, where the foundation focuses on funding development and operations, while Bitmine continues to deepen its staking position, signaling strong long-term confidence in Ethereum’s yield potential and network growth.

Also Read: Brazil Tightens Crypto Rules, Bans Digital Assets in Cross-Border Payments

The post Ethereum Foundation Dumps Another $23M ETH as Bitmine Doubles Down Big appeared first on 36Crypto.