On-chain monitoring data shows that BitMine has increased its Ethereum holdings again and transferred a large amount of its positions out of exchanges. This comes just a week after the company completed a purchase of approximately $237 million worth of ETH, further expanding its Ethereum treasury.
Withdraw another 25,000 ETH from Kraken
The company disclosed that the new purchase amounted to 25,000 ETH, equivalent to approximately $50.41 million at the time of the transaction. On-chain data disclosed by Lookonchain shows that the ETH was withdrawn from Kraken via a large transfer.
- The withdrawal amount is 25,000 ETH.
- At the time, it was worth approximately US$50.41 million.
- The platform from which the transfer originated is the cryptocurrency exchange Kraken.
A purchase of approximately $237 million was completed just a week ago.
About a week before this increase, BitMine had already purchased approximately $237 million worth of ETH. The original article stated that this was the company's largest single-week purchase so far in 2026.
Two consecutive large-scale purchases demonstrate that the company is actively expanding its ETH treasury, rather than engaging in short-term trading. For the market, such corporate-level buying is typically seen as a signal that institutional demand continues.
ETH is still fluctuating above $2,000.
Regarding price, the original text also mentioned that Ethereum has recently been under pressure from volatility, with the market showing signs of weakness at times. Nevertheless, ETH is currently still trading above $2000.
The report also mentioned that some market observers believed Ethereum could fall further if the overall market continued to weaken; however, with signs of a short-term recovery in the crypto market, ETH has temporarily held this key price level. BitMine's continued accumulation during this period has made the company's financial actions one of the current focuses of the ETH market.
Additional information:The description of the purchase size and transfer path in this article is mainly based on the on-chain monitoring data disclosed by Lookonchain. The original article did not provide more detailed financial disclosure documents from BitMine.
