ARK Invest has capitalized on a recent dip in the stock market to increase its holdings in Coinbase and BitMine Immersion Technologies. On Friday, the firm purchased approximately $30 million worth of Coinbase shares, acquiring 94,678 shares across three of its funds as the stock dropped 16.7%, closing at $314.69. This marked Coinbase's largest single-day decline in recent months. Additionally, ARK Invest bought 540,712 shares of BitMine, worth around $17 million, amid an 8.55% decrease in the stock, which closed at $31.68. This strategy follows a pattern of ARK Invest consistently increasing its stake in BitMine, indicating strong confidence in the company's prospects. The stock market downturn was also influenced by disappointing economic data, including a lower-than-expected jobs report and concerns about a cooling economy, which saw major indices like the Dow, S&P 500, and Nasdaq experience significant losses on the same day.

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