Bitmine Secures $15.6M Investment from ARK as Treasury Bets on Ethereum Grow

ARK Invest added to its crypto-linked portfolio on Wednesday, buying $15.6 million worth of shares in Bitmine Immersion Technologies (BMNR), a leading corporate holder of ether.

The investment manager acquired 339,113 BMNR shares across three of its exchange-traded funds — ARK Innovation (ARKK), ARK Next Generation Internet (ARKW), and ARK Fintech Innovation (ARKF) — according to a notice sent to investors.

Shares of Bitmine slid 7.85% to close at $46.03, despite the new allocation.

Bitmine, overseen by Fundstrat co-founder Tom Lee, controls more than 1.7 million ETH, valued at just under $8 billion, making it one of the largest ether treasuries worldwide.

The move reflects Cathie Wood’s strategy of stepping in when stock prices weaken and trimming exposure during rallies, keeping ETF portfolios aligned with target weightings.