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BitMine Immersion Technologies saw its banal descend astir 8% this week, yet that didn’t halt Cathie Wood’s ARK Invest from pouring different $15.6 cardinal into the company.
The latest determination comes during a play of heightened volatility successful some equities and crypto markets.
ARK Expands Its Holdings
According to ARK’s trading disclosures connected August 27, the steadfast bought 339,113 BitMine shares dispersed crossed 3 ETFs.
The ARK Innovation ETF acquired 227,569 shares valued astatine a small implicit $10 million, portion the Next Generation Internet ETF added 70,991 shares worthy $3.27 million.
The Fintech Innovation ETF purchased different 40,553 shares for $1.87 million. Despite this caller circular of buying, BitMine shares ended the time astatine $46 earlier sliding 7.80% successful extended trading.
Cathie Wood and Ark Invest bought 339,113 shares of Tom Lee’s $BMNR contiguous pic.twitter.com/G9SQY02rDg
— Tom Lee Tracker (@TomLeeTracker) August 28, 2025
Ethereum Strategy Draws Institutional Attention
BitMine’s pivot from Bitcoin mining to an Ethereum-focused treasury earlier this summertime has transformed the steadfast into a large firm subordinate successful crypto.
Its equilibrium expanse present holds 1,714,000 ETH, worthy astir $8.20 billion, alongside 192 Bitcoin and $562 cardinal successful cash.
That makes BitMine the world’s largest firm holder of Ethereum. Billionaire capitalist Peter Thiel has besides taken a 9% stake, adding much value to the firm’s accelerated rise.
According to latest data, the company’s strategy has fueled crisp terms movements successful its stock. After surging much than 3,000% to a grounds precocious of $135 successful aboriginal July, shares stay up much than 400% year-to-date contempt caller pullbacks.
Massive Equity Offering Fuels Expansion
Reports person disclosed that BitMine dramatically expanded its fundraising plans. On August 12, the institution filed to boost its at-the-market equity offering from $2 cardinal to $24.5 billion, a determination led by Cantor Fitzgerald and ThinkEquity.
Observers accidental the caller funds volition springiness BitMine much firepower to physique its Ethereum position. Analysts projected beardown gains for Ethereum, predicting $5,500 successful the adjacent word and arsenic precocious arsenic $12,000 by year-end.
If those targets materialize and BitMine pushes toward its 5% proviso goal, the institution could 1 time rival Michael Saylor’s Strategy successful scale.
A New Corporate Champion For Ethereum?
Social media absorption has been speedy to framework BitMine arsenic Ethereum’s mentation of Strategy — a firm conveyance for organization vulnerability to the asset.
ARK’s increasing position, surpassing $200 cardinal this summer, lone strengthens that concept. Yet the risks are conscionable arsenic visible.
BitMine’s stock terms swings item however concentrated bets tin determination violently, adjacent with billions of dollars connected the equilibrium sheet.
Featured representation from Meta, illustration from TradingView
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