“This sale funds the Ethereum Foundation’s core operations and activities, including protocol R&D, ecosystem development, community grant funding and more,” the Foundation posted, echoing past messages regarding sales.
Ethereum's price has dropped significantly since hitting a high of $4,946 last summer, a period that also saw the rise of numerous Ethereum treasury companies riding broader crypto market momentum.
Despite being the largest such firm—with over $11.7 billion in holdings—BitMine is currently sitting on an unrealized loss exceeding $6.3 billion due to the price decline.
Tom Lee's BitMine Makes Biggest Ethereum Buy So Far in 2026, Hitting 5 Million ETH Milestone
