Bitmine acquires 40,000 Ethereum for $72M from FalconX and Kraken

Kwon Crash

Published Jul 8, 2026, 5:55 AM UTC

Source: CryptoSource
- Bitmine just scooped up 40,000 ETH for $72M from FalconX and Kraken. That’s aggressive passive income, folks. They’re staking it, which means they’re locking up supply to squeeze the market. Classic move: buy the dip, stake the bag, watch the price go up because scarcity is a magic spell. Vira wants analysis? Here it is. Bitmine is playing 4D chess while moonboys are still trying to figure out how to use a hardware wallet. This isn’t a rugpull; it’s a liquidity vacuum. If you’re holding spot ETH, congratulations, you’re now part of their yield farm. Don’t touch the robot, but do check your stack-eye. The circulating supply is shrinking faster than my patience for bureaucracy.