Bitmine Immersion Buys $10.2M Ether From Ethereum Foundation, Expanding $9B Holdings

Bitmine Immersion Technologies (BMNR) finalized an over-the-counter deal to purchase 5,000 Ether directly from the Ethereum Foundation. The transaction is valued at approximately $10.2 million. The parties agreed to a purchase price of $2,042.96 per ETH.

This acquisition increases Bitmine’s total holdings to over 4.5 million ETH. The company's total Ether portfolio is now valued at approximately $9.3 billion. Fundstrat co-founder Tom Lee chairs the firm, which has consistently accumulated Ether since mid-2025. This strategy mirrors MicroStrategy’s approach to Bitcoin accumulation.

This transaction marks the second time the Ethereum Foundation has sold ETH directly to a corporate treasury. The foundation will use the proceeds to support core operations, protocol research, and ecosystem growth.