ARK Invest Takes Stake In Ethereum Treasury Firm Bitmine

2025-08-28 03:14:28

(MENAFN- Yolo Wire) ARK Invest has bought $15.6 million U.S. worth of shares in %Ethereum (CRYPTO: $ETH) treasury firm %Bitmine Immersion Technologies (NYSE: $BMNR).

The investment company run by Cathie Wood added a total of 339,113 BMNR shares to three of its exchange-traded funds (ETFs) — Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF).

Bitmine is run by the well-known investor and market commentator Tom Lee.

The company Bitmine is one of the largest corporate holders of Ethereum, having purchased over 1.7 million ETH tokens worth just under $8 billion U.S. currently.

Cathie Wood's Ark Invest often buys shares in companies when they take a hit and offloads them when they've risen again.

Bitmine's stock has soared 557% this year as the price of Ethereum touched an all-time high of just under $5,000 U.S. on Aug. 22.

However, the stock has since pulled back along with the broader crypto sector and is down 8% over the past five trading sessions.

Cathie Wood frequently says that her strategy is to buy stocks when their share price is low and then sell them when they rise again.

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