ARK Invest Expands Stake in BitMine While Reducing Tesla Holdings
ARK Invest boosts investment in BitMine, reflecting its confidence in the Ether treasury firm, and simultaneously, it has cut its Tesla stock holdings significantly.
ARK Invest has recently elevated its investment in BitMine, acquiring approximately $2 million in shares across its exchange-traded funds (ETFs), as the company’s stock skyrocketed by 415% in 2025.
Investment Highlights
The purchase of 48,454 shares of BitMine reflects ARK’s strategic decision to increase its holdings in the Ether-related firm. This investment spans three ETFs including the ARK Innovation ETF (ARKK), ARK Fintech Innovation ETF (ARKF), and ARK Next Generation Internet ETF (ARKW).
Wood’s funds have been enhancing their investment in BitMine following its shift towards accumulating Ether as a treasury asset starting in April.
Reducing Tesla Holdings
On the flip side, ARK has offloaded around 71,638 Tesla shares, translating to approximately $30 million based on Tesla’s share price of $429.52. The ARKK and ARKW ETFs have diversified away from Tesla, which has been a key asset for ARK since 2018. On the same day, Tesla’s stock experienced a decline of 3.68%.
This sale coincides with Tesla shareholders voting in favor of CEO Elon Musk’s substantial compensation package, which could augment his control from 13% to 25% if milestones are achieved.
BitMine’s Financial Context
Despite the robust stock performance, BitMine is facing considerable challenges with around $2.1 billion in unrealized losses associated with its Ether reserves due to the broader crypto market downturn, as reported by CryptoQuant. The company holds nearly 3.4 million ETH, having acquired over 565,000 ETH recently.
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