Kraken-Sourced 20,000 ETH Transfer Linked to Bitmine

Kraken sent 20,000 ETH to a new wallet worth $41.67 million, with suspected ties to Bitmine, signaling sizable Ethereum movements.

Rich by Coin

2026-02-08

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A newly created cryptocurrency wallet has received 20,000 ETH, valued at approximately $41.67 million, from the exchange Kraken. The wallet, identified by the address 0xBf0bD2DC81a31eD4B7b19A0163718DE6A2347f52, is speculated to be associated with Bitmine. This significant transfer highlights ongoing large-scale movements within the Ethereum network.

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Analysts note that Kraken’s involvement underscores the influence of major exchanges on wallet activity, even as the specific purpose remains unclear. Such inflows illustrate how liquidity shifts among Ethereum addresses can signal broader market activity and ongoing network activity driven by major players in the space.