The sale cleared at an average price of $2,042.96 per ETH, and according to the Ethereum Foundation, the proceeds are earmarked to support the Foundation’s operations, including protocol research and development, ecosystem grants, and community funding. The Foundation confirmed that the on-chain transaction would originate from an EF Safe multisig wallet and is part of its ongoing treasury management activities.<\/p>\n
Interestingly, this is not the first time the Ethereum Foundation is selling to a corporate Ethereum holding company. Back in July 2025, the Foundation sold 10,000 ETH to SharpLink Gaming at an average price of $2,572, a deal worth $25.7 million.<\/p>\n
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Ethereum is currently down by almost 60% from its 2025 all-time high of $4,946. However, BitMine has maintained its buying program and is taking advantage of the low prices in anticipation of a rally. BitMine\u2019s purchase from the Ethereum Foundation fits into a much bigger accumulation campaign<\/a> that began when the company adopted an Ethereum treasury strategy in mid-2025.<\/p>\n Since pivoting away from its previous focus on Bitcoin mining, BitMine has quickly built one of the largest institutional ETH reserves in the world. Recent disclosures show the company now holds more than<\/a> 4.53 million ETH, representing about 3.7% of Ethereum\u2019s total circulating supply.<\/p>\n Large institutional treasuries are not the only entities accumulating Ethereum. On-chain data shows that several individual whales have also been building significant positions over the past few days.<\/p>\n Data shared by the on-chain analytics tracker EyeOnChain already showing an unrealized profit above $980,000.<\/p>\nEthereum Whales Step In To Accumulate At Current Prices<\/b><\/h2>\n