Cathie Wood's firm ARK Invest has announced an additional purchase of Bitmine Immersion Technologies shares, boosting its investment to over $300 million.
ARK Invest Purchases
ARK Invest made a $15.6 million purchase of Bitmine shares, distributing its acquisitions across three funds: ARK Innovation ETF (ARKK) acquired 227,569 shares, ARK Next Generation Internet ETF (ARKW) bought 70,991 shares, and ARK Fintech Innovation ETF (ARKF) acquired 40,553 shares.
Bitmine Share Movement
Bitmine shares remained steady this month despite a rise in Ethereum prices. On Wednesday, shares fell nearly 8% closing at $46.03. However, year-to-date, Bitmine shares are up 490%, with a revenue growth of 67.5% to $2.05 million.
ARK Invest Strategy
ARK Invest continues to build its positions in the crypto sector, increasing investments in firms linked to cryptocurrencies. The recent acquisition of Bitmine shares indirectly enhances its exposure to Ethereum.
Thus, ARK Invest reaffirms its commitment to investing in the cryptocurrency industry, showcasing a strategic approach to asset accumulation through companies engaged with Ethereum.
