On-chain monitoring data shows that BitMine has once again increased its Ethereum holdings and transferred large positions out of exchanges. Just a week earlier, the company completed a purchase of approximately $237 million in ETH, further expanding its Ethereum treasury.
Withdraw another 25,000 ETH from Kraken
The company disclosed that the additional purchase size was 25,000 ETH, amounting to approximately $50.41 million based on the price at the time of the transaction. On-chain data revealed by Lookonchain shows that this batch of ETH was withdrawn from Kraken via a large transfer.
- The withdrawal amount is 25,000 ETH.
- Approximately $50.41 million at the price at that time
- The withdrawal platform is the cryptocurrency exchange Kraken.
Completed a purchase of approximately $237 million a week ago
Approximately one week before this additional purchase, BitMine had already bought about $237 million worth of ETH. According to the original report, this was the largest single-week purchase by the company since the beginning of 2026.
Two consecutive large purchases indicate that the company is still actively expanding its ETH treasury rather than holding for short-term trading. For the market, such enterprise-level buys are often seen as a signal that institutional demand continues.
ETH continues to trade above $2,000.
On the price front, the original text also noted that Ethereum has recently faced volatility pressure, with the market briefly showing weak signals. Nevertheless, ETH continues to trade above $2,000.
The report also noted that some market participants believe Ethereum could decline further if the overall market continues to weaken; however, with signs of short-term recovery emerging in the crypto market, ETH has temporarily held this key level. BitMine continued to accumulate during this phase, making its treasury actions one of the current focal points in the ETH market.
Additional information: The descriptions regarding purchase volume and transfer pathways in this article are primarily based on on-chain monitoring data disclosed by Lookonchain; the original text does not provide more detailed treasury disclosures from BitMine.