BitMine-linked wallet withdraws 30,278 ETH from Kraken ahead of Fusaka upgrade
Despite recent price volatility, BitMine continues aggressive ETH accumulation as it prepares for future network upgrades and staking solutions.
Key Takeaways
- BitMine-linked wallet withdrew 30,278 ETH worth $91 million from Kraken.
- BitMine's total ETH holdings now exceed 3.7 million, positioning for future Ethereum upgrades.
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On-chain data tracked by Lookonchain shows that a recently created wallet possibly associated with BitMine Immersion has withdrawn 30,278 ETH valued at around $91 million from Kraken.
A newly created wallet 0x52B7 — possibly linked to #Bitmine — just withdrew 30,278 $ETH($91.16M) from #Kraken.https://t.co/EAHX1UiXeXhttps://t.co/m5FX261tsH pic.twitter.com/pHFDudcfxv
— Lookonchain (@lookonchain) December 3, 2025
The move follows reports that BitMine purchased another 18,345 ETH worth nearly $55 million on Tuesday. The Ethereum treasury company disclosed earlier this week that its ETH stash exceeded 3.7 million units, or more than 3% of Ethereum’s total supply.
The recent transfers come ahead of Ethereum’s Fusaka upgrade, scheduled to activate this evening. BitMine is positioning itself for the network milestone and plans to deploy its MAVAN staking solution in early 2026, maintaining its lead among crypto treasuries globally.
