The Ethereum Foundation sells, Bitmine buys: a duo that draws criticism

Recent movements around Ethereum are attracting the attention of the crypto market. Between a new sale of 10,000 ETH and nearly $47 million in sales in one week, exchanges between the Ethereum Foundation and Bitmine are fueling discussions. These operations also raise criticism in the crypto community over asset management and the balance of the ecosystem.

Ethereum Accelerates Massive ETH Sales

After withdrawing more than 17,000 ETH from staking, the Ethereum Foundation announced the finalization of a new sale of 10,000 ETH, carried out via an over-the-counter agreement with Bitmine. The average price of this transaction is $2,292.15 per ETH.

According to the organization, this sale funds its core activities. She cites research, protocol development, ecosystem support and community grant funding. The structure also specifies that the operation is part of its normal cash management policy.

This transaction is not isolated. A week earlier, theentity had already sold 10,000 ETH for around $24 million. In total, these sales represent nearly 47 million dollars in a few days.

These operations come after the foundation had indicated that it wanted to limit its sales of Ethereum. At the same time, it is exploring other income, notably staking and decentralized finance.

Bitmine strengthens its accumulation strategy

Bitmine appears to be the main buyer in these recent transactions. The company acquired all of the assets sold, confirming its interest in Ethereum.

With nearly $47 million committed in one week, the company is quickly strengthening its position. These acquisitions are made off-market, which limits their direct effect on exchange platforms.

At the same time, the actor is developing a strategy oriented towards staking. According to the data relayed by Lookonchainhe added 162,088 ETH to his locked positions.

In total, the company now has approximately 4,194,029 ETH staked, or nearly $9.5 billion. This represents about 83% of his holdings, up from almost 70% the previous week.

This approach allows Bitmine to generate returns while consolidating its presence in the ecosystem.

ETH sales spark wave of criticism in crypto community

The foundation's sales of Ethereum and massive purchases by Bitmine sparked reactions on X. Several publications helped structure the debate.

The company Arkham Intelligence has alerted about the massive sales of ETH carried out for the benefit of Bitmine. She emphasized in a post on

The Ethereum Foundation currently holds 214.8 million ETH. If sales continue at this rate, it will run out of ETH by 2027.

Arkham Intelligence. Source:

At the same time, smart contract architect Danijel criticizes the management of funds. It highlights the volume raised in a short time and questions the concrete use of resources; thus he asks himself: “ Seriously, why do you need $46 million in two weeks?! How much do you spend and on what? Why don't any developers accept ETH directly as payment?! »

Despite these reactions, Ethereum's price rose more than 2% on Friday, reaching around $2,309.80 after the announcement. This development shows that the market absorbed these sales without any major immediate reaction.

Ultimately, these movements illustrate the growing tensions around asset management. On the one hand, the foundation justifies its sales by financing its activities and the development of the ecosystem. On the other hand, the rapid accumulation of Bitmine and the pace of disposals fuel questions about the transparency and sustainability of this strategy. If the market seems, for the moment, to absorb these operations without major problems, the debate within the community could intensify. In the medium term, the foundation's ability to balance funding, trust and stability will remain a key issue for the future of ETH.