BitMine Withdraws 12,500 ETH as BMNR Stock Rallies
Ethereum (ETH)
Editor:
Eugene Serbin
cryptocurrency.com.tr reports that BitMine transferred 12,500 ETH, valued at approximately $34.55 million, from Kraken, coinciding with a strong daily gain for its shares. BMNR stock rose 8.84% on September 21 to close at $28.25, following the on-chain activity highlighted by Lookonchain. The transfer occurred when Ethereum was trading near $2,764, bringing renewed attention to the company's Ethereum strategy. Lookonchain described the move as another purchase by BitMine, though an exchange withdrawal alone does not confirm a fresh acquisition.
How the market reacted
Whalio's own Binance spot order flow for ETH, measured when this story was written up on 22 September 2026. Not the outlet's figures.
On Binance spot markets, Ethereum is trading at $2,776.19 with a 24-hour buy ratio of 52.4%, indicating that buyers are slightly more active than sellers over the full day. In contrast, the 1-hour buy ratio sits at 40.7%, showing that short-term selling pressure has intensified compared to the daily average. The 1-hour volume delta is negative at -$7,983,416, meaning more volume was executed at the ask price than the bid price in the last hour. This suggests that immediate buying momentum is fading, even though the 4-hour buy ratio remains balanced at 49.9%. The 24-hour cumulative volume delta is -$16,391,406, reflecting that net selling pressure has outweighed buying pressure over the longer timeframe.
The latest daily buy ratio of 46.8% sits at the 16th percentile of the last 322 days, against a median of 49.5% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ETH, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 49.4%, while the latest day saw a ratio of 52.4%, which is 3.0 percentage points above the weekly average. This indicates that today’s buying activity is slightly stronger than usual for this coin. Volume was 1.92 times the weekly average, signaling significantly higher participation than normal. The 8-day volume delta was positive at $49,396,924, contrasting with the negative 24-hour delta, showing that net buying has dominated the broader weekly trend despite recent short-term selling. Only 2 of the past 7 days were characterized by net buying, making this a relatively unusual day for sustained accumulation.