11-Year-Dormant Ethereum Premine Wallets Reactivate as Bitmine Buys 7,430 ETH

CoinDesk reports that a long-inactive Ethereum premine address has resumed activity. Whale Alert data shows the wallet holds 2,000 ETH, valued at about $3.79 million at current prices. The address had been dormant for 11 years; at inception, the balance was worth roughly $620. The move adds to a growing list of early-wallet reactivations. In late April, another premine address holding 10,000 ETH became active after 10.8 years of inactivity. In May, additional early addresses began moving again, with balances of 2,000 ETH, 790 ETH and 400 ETH. Whale Alert also flagged dormant wallets holding 401 ETH and 99 ETH that reactivated earlier this year. Similar patterns have appeared in early Bitcoin wallets, suggesting the revival of old addresses is not unique to Ethereum. Institutional accumulation continues alongside these on-chain awakenings. Onchain Lens reported that Bitmine bought 7,430 ETH over the past week, lifting total holdings to 5.78 million ETH. The company said it has staked about 4.91 million ETH, putting the value of its Ethereum treasury at roughly $10.9 billion. Including cash and other assets, total holdings are estimated at about $11.5 billion. ETH was trading near $1,900 at the time of the report.