12 hours ago
ARK Invest bought $18.6 cardinal worthy of shares successful ether treasury steadfast BitMine Immersion Technologies (BMNR).
Cathie Wood's concern steadfast added a full of 529,366 BMNR shares to its Innovation (ARKK) and Next Generations Internet (ARKW) exchange-traded funds (ETFs) connected Monday, according to an email notification.
BMNR fell more than 11.8% to $35.11 and is present down immoderate 74% since spiking to $135 aboriginal this month.
BitMine has positioned itself arsenic 1 of the largest firm accumulators of ether successful caller months, amassing much than 300,000 ETH worthy implicit $1 billion.
Numerous companies person adopted a strategy of gathering an Ethereum treasury, copying the playbook of Michael Saylor's Strategy (MSTR) with bitcoin.
Among different factors, this has helped ignite a breakout successful ETH's price, which has gained astir 57% successful July to astir $3,900, according to CoinDesk data.
ARK besides sold conscionable nether $7 cardinal of Coinbase (COIN) shares and $15 cardinal worthy of Jack Dorsey's fintech institution Block (XYZ), based connected Monday's closing prices.
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