Suspected Bitmine address withdraws $50.6M in ETH from Kraken

According to an analysis by Onchain Lens, a new address suspected of belonging to Bitmine (BMNR), a publicly traded company that strategically holds Ethereum, withdrew 25,000 ETH (approximately $50.56 million) from Kraken about five hours ago. Withdrawals from exchanges are generally interpreted as an intention to hold.