The Ethereum Foundation (EF) completed the sale of 5,000 ether (ETH), the cryptocurrency of the eponymous network, to the firm BitMine Immersion Technologies, the company with the largest reserve of the digital asset in the US market.
The transaction was executed at an average price of $2,042 per unit, which represents a capital movement of 10 million dollars destined, according to the Foundation, to the operational financing of the non-profit organization. This responds to financial planning structured by the EF to ensure the sustainability of technical developmentexplained the organization.
However, this is not an isolated sale. The Foundation has made gradual sales over the last year, a strategy that has received harsh criticism from community members, who have asked that the organization stop selling ETH to avoid downward pressure on the price.
From the entity they indicated that the Foundation calculates how much ETH to sell based on maintaining a reserve of operating capital of 2.5 years and an annual expense of 15% of the treasury.
Official policy dictates selling more in bull markets and reducing sales, or increasing support, in bear markets. This position seeks to give predictability to developers and projects that depend on subsidies, preventing the volatility of the cryptocurrency market from compromising the long-term objectives of the Ethereum network.
BitMine reinforces its position as a leader in the ETH treasury
On the buyer’s side, BitMine Immersion Technologies has taken advantage of the liquidity window to add the assets to a portfolio that already far exceeded those of its competitors.
After the acquisition of the 5,000 ETH, The company led by Tom Lee has 4,539,563 ETH in its possession, valued at more than $9.56 billion. While the company’s portfolio is made up almost entirely of this cryptocurrency, the firm also maintains a diversified position that includes around 195 bitcoin (BTC).
The magnitude of BitMine’s reserve is notable when compared to its direct competitors. Currently, the company surpasses by a wide margin the second company with the most ETH, SharpLink, which has 868,699 ETH, as seen in the image.
This concentration of digital assets on a single balance sheet reflects an institutional investment thesis that prioritizes the appreciation potential of ether over other financial assets.
Accumulation prospects in the current market
The execution of this purchase occurs at a time when the price of ether (ETH) remains in the range of $2,000, showing an increase of 7% in the last seven days.
Thomas Lee, president of BitMine, has been emphatic in defending the aggressiveness of his market strategy. As reported by NoticiasVE, Lee has justified the ETH purchases by noting that the market is “in the final stages of a mini-winter.”
BitMine’s steady accumulation reinforces the institutional trend of taking advantage of reduced prices to strengthen balance sheets ahead of a potential cycle change. This company’s stance suggests a long-term view that ignores immediate volatility and focuses on ETH growth.