Ethereum Surge: 72,898 ETH (≈$279 M) Flowing to New Addresses Linked to Bitmine

COINOTAG News, October 18 – Onchain Lens monitoring has identified that three brand‑new wallet addresses recently received a combined total of **72,898 ETH**, equivalent to approximately $279 million in current market value. The inflow came from two prominent custodians, FalconX and BitGo, indicating a coordinated transfer event.

The addresses are widely suspected to be controlled by **Bitmine**, a recognized mining operator with a substantial presence in the Ethereum ecosystem. Analysts suggest that the volume transferred could be part of a reallocation strategy to bolster Bitmine’s staking and liquidity pools, thereby enhancing its competitive position in proof‑of‑stake operations.

While the precise intent remains unclear, the transaction’s magnitude underscores the importance of vigilant onchain surveillance for institutional crypto movements, and it highlights how large custodians continue to facilitate rapid, high‑value asset flows to strategic actors in the cryptocurrency space.