Tom Lee’s BitMine Transfers 5,300 ETH to Coinbase Prime After Major Accumulation
According to on-chain analyst Yu Jin, the crypto firm moved over $10 million in Ether to Coinbase Prime following a week of large-scale holdings increase.
ETH
Fact Check
The claim is supported by a consistent pattern of weekly treasury updates from BitMine Immersion Technologies (BMNR), a firm chaired by Tom Lee. Previous verified reports from CoinDesk (March 2, 2026) and PR Newswire (December 2025) confirm the firm's aggressive ETH accumulation strategy. Multiple independent reports on March 9, 2026, specify the exact figures of 60,976 ETH and $122 million, which fits the established timeline and pricing data.
Summary
On-chain analyst Yu Jin reported that a wallet identified as Bitmine transferred 5,300 Ethereum (ETH), valued at $10.75 million, to Coinbase Prime within the past few hours. The same Bitmine wallet previously acquired 61,000 ETH ($123 million) last week. The repeated transactions suggest ongoing institutional activity and possibly indicate preparations for direct staking through Coinbase Prime, though the wallet’s labeling may be inaccurate.
Terms & Concepts
- Ethereum (ETH): A leading blockchain platform that enables smart contracts and decentralized applications.
- Coinbase Prime: An institutional-grade platform by Coinbase designed for secure custody, trading, and staking of cryptocurrencies.
- On-chain analysis: The process of examining blockchain data to track and interpret cryptocurrency transactions and wallet activity.