ARK Invest Acquires $15.6M Stake in Ether Firm Bitmine
ARK Invest has made a significant investment in Bitmine, a leading corporate holder of ether, purchasing over $15 million in shares.
ARK Invest Acquires $15.6M Stake in Ether Firm Bitmine
ARK Invest made a bold move by investing $15.6 million in Bitmine Immersion Technologies (BMNR) last Wednesday. This St. Petersburg, Florida-based investment firm purchased a total of 339,113 shares, integrating them into three of its exchange-traded funds (ETFs) — Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF).
Bitmine is currently one of the largest corporate ether holders, having acquired over 1.7 million ETH, amounting to nearly $8 billion at present prices.
Stock Performance: On the same day, BMNR shares encountered a decline of 7.85%, dipping to $46.03.
ARK Invest, led by Cathie Wood, is known for capitalizing on stocks during price drops and selling them once they rebound, as part of its strategy to balance holdings in different ETFs.
Learn more about the latest developments: Yahoo Finance on Bitmine.
