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A new wallet believed to belong to Bitmine has received 16,693 ETH from FalconX.

On-chain data shows a new Ethereum wallet has received 16,693 ETH ( approximately 50.1 million USD) from FalconX, a major digital asset broker, after executing a small test transaction — a sign the wallet was just created recently. There is significant evidence suggesting that the owner may be Bitmine Immersion Technologies (NYSE: BMNR), a Bitcoin mining company pivoting towards ETH Accumulation.

This move aligns with Bitmine's large-scale buying strategy, as the company accumulated over 52,000 ETH by the end of November 2025, prompting the market to compare them to the way Strategy accumulates Bitcoin.

Organizations that transact through FalconX often show a high level of trust in ETH. According to Chainalysis data for the period 2021–2024, similar accumulation events by “whales” often lead to an average price increase of 25% in the following 30 days.

ETH-7.37%
BTC-6.04%
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