Cathie Wood’s ARK Invest has acquired an additional $15.6 million in shares of Bitmine Immersion Technologies (BMNR), bringing its total investment in the company to over $300 million. The recent purchase occurred across three of ARK's funds, with the ARK Innovation ETF acquiring the largest portion. ARK’s holdings in Bitmine are seen as a strategic bet on Ether and are nearly half the size of its investment in Coinbase, which is valued at approximately $676 million. Wood's initial investment in Bitmine began on July 21, with a significant purchase of $174 million. Despite a recent drop in Bitmine shares, they are still up 490% year-to-date. Additionally, Bitmine reported a revenue increase of 67.5% compared to the previous year, indicating strong financial performance.

Source 🔗