Privately held aerospace company SpaceX moved more than $94 million worth of Bitcoin on Wednesday, according to on-chain data, as the firm reportedly gears up for a potential public listing in 2026.

Blockchain analytics firm Arkham Intelligence said Bitcoin addresses it has tagged as belonging to SpaceX transferred a combined 1,021 BTC to two separate addresses, in tranches of 407 BTC and 614 BTC.

“SpaceX just transferred $94 million of BTC. They have been moving around $100 million of BTC every week for around the past two months now,” Arkham wrote on X.

The transfers mark the latest in a series of large Bitcoin movements by Elon Musk’s company this year, coinciding with preparations for what could become a record-setting IPO. SpaceX may seek to raise more than $30 billion at an estimated $1.5 trillion valuation, Bloomberg has reported.