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BitMine Adds 10,000 ETH From Kraken, Lifting Total Holdings to 4.38M

BitMine Immersion Technologies purchased 10,000 ETH from Kraken on Feb. 20 for about $19.49 million, bringing its two-day total to 45,000 ETH and lifting overall Ethereum holdings to more than 4.38 million ETH, blockchain tracker Lookonchain reports. Earlier that day, the firm acquired 15,000 ETH worth nearly $29.57 million from FalconX, following a Feb. 18 purchase of 20,000 ETH for $39.8 million from BitGo as Ethereum traded below $2,000. BitMine now controls roughly 3.62% of ETH's circulating supply and has staked 3,040,483 ETH, generating about $176 million in annualized staking revenue, with total assets reported at around $9.6 billion across crypto, cash, and minority equity positions. The company continues its long-term accumulation and staking strategy for Ethereum even as market data from Coincodex show ETH down over multiple time frames and the Fear and Greed Index indicating extreme fear.
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