Overview

• On-chain analytics firm Lookonchain tracked six BitMine-linked wallets withdrawing 128,718 ETH from FalconX and Kraken.
• The haul brings BitMine’s holdings to roughly 2.96 million ETH, about 2.5% of supply, reinforcing its status as the largest corporate ETH treasury.
• Earlier in the week, trackers flagged additional buys of about 41,421 ETH, underscoring a steady buy-the-dip pattern.
• Despite carrying an estimated $2.1–$2.2 billion in unrealized losses, the firm reiterated a long-term goal to own roughly 5% of ETH’s supply.
• BitMine stakes its holdings through validators to earn 3–5% yields as analysts describe the pullback as a technical correction after a multi-month rally.