The purchase was said to have been executed through FalconX and Kraken, adding a sizable Ethereum buy to a market where large treasury-style acquisitions are drawing close attention.
Bitmine reportedly acquired 40,000 ETH worth about $70 million on Tuesday, with the purchases routed through FalconX and Kraken, according to Lookonchain. The reported transaction points to a large-scale Ethereum accumulation by the Tom Lee-linked firm, a type of move traders often watch for signals on institutional demand and balance-sheet crypto strategies.