New address tied to Bitmine withdraws $48.9M in ETH from Kraken

A newly created address believed to be linked to Bitmine (BMNR), starting with 0xAef, withdrew 20,000 ETH worth $48.89 million from Kraken over the past 50 minutes, according to ai_9684xtpa. Exchange withdrawals are typically interpreted as a sign of holding intent. Bitmine currently holds 5,847,611 ETH at an average purchase price of $3,359, with unrealized losses estimated at $5.27 billion.