Bitmine wallets seen pulling nearly $200M in ETH amid pullback

PANews, May 16 — On-chain analyst Yujin said Ethereum-focused treasury firm Bitmine (BMNR) may be continuing to buy heavily after ETH slid to about $2,200. Roughly an hour earlier, 89,026 ETH (about $198 million) were withdrawn from Kraken and FalconX to four wallets believed to be tied to Bitmine. Reports had previously noted that the same four wallets had already withdrawn more than 89,000 ETH from FalconX and Kraken, worth close to $200 million.