The Ethereum Foundation has expanded its staking strategy by committing $46.2 million worth of Ether (ETH) in its largest allocation so far, following a recent transaction involving BitMine.

On Monday, the foundation’s treasury multisignature wallet executed 11 separate deposits into the Ethereum Beacon Deposit Contract. Each deposit included approximately 2,047 Ether, bringing the total to 22,517 ETH, valued at around $46.2 million, according to Arkham Intelligence data.

The foundation began staking Ether in February, initially depositing 2,016 ETH and outlining a plan to stake up to 70,000 ETH over time. The generated rewards are intended to be reinvested into research, ecosystem development and grant funding.

Earlier this month, the foundation added another 31 ETH to its staked holdings, bringing the total to roughly 24,564 ETH. This shift toward staking reflects a move away from reliance on periodic ETH sales, which have previously faced criticism.

OTC sale supports operational funding

The latest staking activity follows an over-the-counter transaction in which the Ethereum Foundation sold 5,000 Ether to BitMine Immersion Technologies for approximately $10.2 million. According to the foundation, the proceeds from the sale will be used to fund core operations, including protocol research, ecosystem expansion and community grants.

This marks the second time the foundation has conducted a direct OTC sale to a corporate buyer. A previous transaction involved the sale of 10,000 ETH to SharpLink Gaming in July 2025. At present, the Ethereum Foundation holds about $361 million in onchain assets, with the vast majority, approximately $360.8 million, held in Ether on the Ethereum network. Smaller balances are distributed across other networks such as Arbitrum, Optimism and Bitcoin.

Market pressure weighs on Ether price

At the same time, Ether’s market performance has come under pressure. The asset dropped below the $2,000 level over the weekend, raising concerns about a potential continuation of the downward trend.

Several analysts, including Onur, CryptoWZRD and Ted Pillows, have pointed to repeated rejections around the $2,200 level and weakening momentum indicators. Some have suggested that Ether could decline further into the $1,750 to $1,850 range.

Market demand has also softened, with data from Capriole Investments indicating that demand for Ether has fallen to its lowest point in 16 months.

Sources:

https://cointelegraph.com/news/ethereum-foundation-stakes-46m-eth-after-bitmine-sale-accelerates-70k-plan

https://capriole.com/charts/?chart=apparent-demand-eth&ticker=MARA

https://intel.arkm.com/explorer/entity/ethereum-foundation

https://x.com/arkham/status/2038493175749493089