Bitmine appears to have increased its ETH holdings by nearly $200 million.

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PANews reported on May 16th that, according to on-chain analyst Ember, after ETH fell to around $2,200, Ethereum treasury company Bitmine (BMNR) may have continued to significantly increase its ETH holdings. One hour ago, 89,026 ETH ($198 million) were withdrawn from Kraken and FalconX to four wallets that may belong to Bitmine.

Previous reports indicated that four wallets withdrew over 89,000 ETH from FalconX and Kraken, worth nearly $200 million.

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