Ethereum Foundation accelerates 70,000 ETH staking plan after BitMine sale

The Ethereum Foundation deployed $46.2 million in ETH across 11 deposits as it accelerates a 70,000 ETH staking plan.

The Ethereum Foundation has accelerated its treasury staking push, deploying $46.2 million in Ether in its largest move to date after the recent BitMine sale.

On Monday, the foundation’s treasury multisignature wallet made 11 deposits into the Ethereum Beacon Deposit Contract, each of roughly 2,047 Ether (ETH), totaling 22,517 tokens worth roughly $46.2 million, according to data from Arkham Intelligence.

The Ethereum Foundation started staking ETH in February, depositing 2,016 ETH and outlining plans to stake up to 70,000 ETH, with rewards reinvested into research, ecosystem development and grants.

The foundation also deposited a smaller 31 ETH tranche earlier this month, bringing the total staked holdings to roughly 24,564 ETH as it shifts to staking to generate yield, rather than relying on periodic ETH sales, which have historically drawn criticism.

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The new staking move comes after the EF completed an over-the-counter (OTC) sale of 5,000 Ether to BitMine Immersion Technologies, valued at about $10.2 million. The foundation said proceeds would support core operations, including protocol research, ecosystem growth and community grants.

The transaction marked the foundation’s second direct OTC sale to a corporate buyer, following a 10,000 ETH sale to SharpLink Gaming in July 2025.

The EF currently holds about $361 million in onchain assets, with the vast majority, roughly $360.8 million, held in Ether on the Ethereum network, alongside small balances across networks like Arbitrum, Optimism and Bitcoin, according to Arkham.

Related: Ethereum risks losing No. 2 spot as stablecoins gain ground

Ether fell below the $2,000 level over the weekend, raising the risk of a deeper correction. Analysts, including Onur, CryptoWZRD and Ted Pillows, pointed to repeated failures at $2,200 and weakening momentum, with some warning ETH could fall toward the $1,750–$1,850 range.

Demand for Ether has also turned negative, hitting its lowest level in 16 months, according to Capriole Investments.

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Source: CoinTelegraph