EthSystems Launches to Build Privacy Solutions for Institutions on Ethereum

Founded by the team behind the Ethereum Foundation's Institutional Privacy Task Force, EthSystems is building privacy and compliance technology for Ethereum

Key backers include Bitmine, Sharplink and Joe Lubin

NEW YORK, July 14, 2026 /PRNewswire/ -- EthSystems, an engineering and research company (the "Company"), today announced its public launch with anchor funding from Bitmine Immersion Technologies, Inc. (NYSE: BMNR), Sharplink, Inc. (Nasdaq: SBET), Joe Lubin and other ecosystem supporters. The Company is building privacy technology that lets banks, asset managers and other regulated institutions execute financial transactions on Ethereum at scale, without exposing sensitive information like trade details or client identities.

EthSystems is founded by the team that built and ran the Ethereum Foundation's Institutional Privacy Task Force ("IPTF"). It launches with a year of open-source work already public at ethsystems.org, and with relationships built directly with central banks, regulators, tier-one banks and asset managers.

Banks, asset managers and market infrastructure providers are already exploring and deploying stablecoins, tokenized assets and settlement on Ethereum. But meaningful institutional adoption requires more than access to the network: institutions need complete systems that protect commercially sensitive information, satisfy regulatory and compliance requirements, and integrate with the infrastructure they already operate. EthSystems builds the technology that lets each party to a transaction see what it has a right to see, nothing more, without giving up the decentralization and security that are core to Ethereum.

EthSystems joins two other organizations recently spun out of the Ethereum Foundation, each with a distinct and complementary role. Ethlabs advances Ethereum's core protocol and infrastructure. Ethereum Institutional leads institutional engagement, education, market intelligence and ecosystem coordination. EthSystems operates at the applied technical layer; translating institutional requirements into the architectures, protocols and production systems that carry real financial activity on Ethereum.

EthSystems' founding team, Mo Jalil, Oskar Thorén and Aaryamann Challani, built and led the IPTF, working directly with central banks, regulators and top-tier financial institutions over the past year. Their backgrounds include the Ethereum Foundation, Goldman Sachs and Status, one of the earliest Ethereum mobile clients, where they helped build core privacy infrastructure now used across the Ethereum ecosystem. That mix of institutional and technical experience is why the founders believe they can help institutions build high-quality privacy solutions with real credibility.

Tom Lee, Chairman of Bitmine. "The institutionalization of Ethereum requires infrastructure that meets institutional standards for privacy and security. The next $100 trillion of assets won't migrate on-chain without it. EthSystems is building that missing layer with a team that understands how institutions evaluate and adopt new technologies. This is exactly the kind of foundational investment Bitmine is making to accelerate Ethereum's evolution as institutional financial infrastructure."

Joseph Chalom, Chief Executive Officer of Sharplink. "Our core thesis is that Ethereum's differentiated value compounds as more financial activity moves onto it. The full Ethereum opportunity can only be realized if institutions can use the network while preserving privacy. This team has rigorously validated these solutions with key institutions that require them. We believe EthSystems' work will accelerate the next phase of institutional adoption of Ethereum. By supporting the EthSystems team, we are directly advancing the privacy and confidentiality capabilities required for major financial institutions to operate on Ethereum — and doing so in a way that aligns with our mission to create long‑term value for our shareholders."

Joe Lubin, Ethereum co-founder and founder and Chief Executive Officer of Consensys. "Over the years, I've watched many teams offer institutions privacy technology that was sometimes just permissioned systems with extra steps. This team understands the difference deeply. They have a year of shipped work to show for it, and the discipline to publish the work as they go, so the rest of the ecosystem can build on it, instead of waiting for one company to hand down the answer. That's how the Ethereum ecosystem has always innovated. It is what Ethereum needs from the people building its institutional layer, and it's what this team has brought from day one. I and the Consensys Institutional group look forward to collaborating closely with the EthSystems team to bring best in class privacy and confidentiality constructs to the best in class systems we build with and for major financial institutions."

Mo Jalil, Co-founder and Chief Executive Officer of EthSystems

"Privacy is what preserves the dignity, safety and security of everyone on a network, from individuals to institutions. It is why Ethereum has won institutional capital and is on its way to win institutional commerce. No central bank, asset manager or government will run operations in full view of the world. For them, privacy isn't a feature. It is the requirement, and it is the difference between Ethereum holding billions today and running trillions tomorrow."

About Bitmine
Bitmine (NYSE: BMNR) is a Bitcoin miner with operations in the US. The company is deploying its excess capital to be the leading Ethereum Treasury company in the world, implementing an innovative digital asset strategy for institutional investors and public market participants. Guided by its philosophy of "the alchemy of 5%," the Company is committed to ETH as its primary treasury reserve asset, leveraging native protocol-level activities including staking and decentralized finance mechanisms. The Company launched MAVAN (Made-in America Validator Network), a dedicated staking infrastructure for Bitmine assets, in 2026.

About Sharplink
Sharplink (NASDAQ: SBET) is a leading institutional-grade Ethereum treasury platform designed to give public market investors smarter, more productive exposure to ETH. Ethereum underpins the majority of global stablecoin, tokenized real-world assets and decentralized finance settlement. Sharplink was founded in 2019 and is headquartered in Miami, Florida. Learn more at sharplink.com.

About EthSystems
EthSystems is an engineering and research company building confidential systems for institutional Ethereum. Founded by the team behind the Ethereum Foundation's Institutional Privacy Task Force, the Company has a year of shipped, open-source work spanning private transfers, private bonds, confidential settlement and privacy-preserving identity, available at ethsystems.org. EthSystems works directly with institutions, vendors and teams across the Ethereum ecosystem to take these systems into production, operating globally with deep roots in Asia-Pacific.

Forward-Looking Statement

This press release contains forward-looking statements regarding anticipated institutional interest in Ethereum, engagement pipelines, and business strategy. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially. Forward-looking statements speak only as of the date of this release, and EthSystems undertakes no obligation to update them except as required by law. This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security or digital asset.

SOURCE Bitmine Immersion Technologies, Inc.; EthSystems