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Tom Lee’s BitMine has bought 15,000 ETH from the Ethereum Foundation so far in 2026 through two over-the-counter transactions worth about $34.08 million, as the company accelerated its Ethereum treasury strategy and pushed its total holdings above 5 million ETH.
The latest transaction involved 10,000 ETH sold by the Ethereum Foundation to BitMine on April 24 at an average price of $2,387 per token. The sale raised about $23.87 million.
That followed an earlier March deal in which the Foundation sold 5,000 ETH to BitMine at an average price of $2,042.96, generating about $10.21 million.
Taken together, the two transactions account for the confirmed Ethereum Foundation-to-BitMine purchases this year: 15,000 ETH in total. BitMine’s broader Ethereum accumulation has come from other sources, but the direct transfers from the Foundation have drawn renewed attention.
BitMine said its total Ethereum holdings reached 5,078,386 ETH as of April 26. The company also reported buying 101,901 ETH last week alone, described as its largest weekly purchase since December.
With the update, BitMine placed above 4.2% of Ethereum’s total circulating supply and moved closer to its stated goal of reaching 5%.
The Ethereum Foundation’s latest 10,000 ETH sale to BitMine was disclosed as part of its treasury activity, not as a change in its view on Ethereum. The sale was completed off-exchange, allowing the Foundation to raise funds without placing the full order on the public market.
The Foundation has continued to manage its treasury under a policy framework adopted in 2025, intended to keep enough reserves to fund operations while still supporting research, grants, protocol development, and ecosystem work. The two BitMine deals indicate that ETH sales remain part of its operating model when needed.
Alongside ETH sales, the Foundation has expanded staking activity by increasing the amount of ETH committed to staking to generate treasury yield. However, the two BitMine transactions show that staking has not replaced asset sales as a funding source.
BitMine’s reported balance sheet context suggests the Foundation’s 15,000 ETH purchases are a small portion of its overall holdings. With more than 5.07 million ETH on its balance sheet, the Foundation’s 15,000 ETH represents less than 0.3% of BitMine’s total.
BitMine said its latest weekly purchase of 101,901 ETH was its biggest since December, continuing a buying pace that has made it one of the largest known corporate Ethereum holders in the market. The company has linked its approach to a broader view of ETH as both a treasury asset and productive collateral within blockchain-based finance.
BitMine also reported staking more than 3.7 million ETH, indicating a substantial portion of its holdings is already deployed on the network rather than held idle in treasury reserves. The company described this as part of a broader capital allocation strategy around Ethereum.
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