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6h ago

ARK Invest Buys $15.6 Million of BitMine as Shares Fall Nearly 8%

The purchase reflects ARK Invest’s buy-the-dip approach to crypto equities.

Ark invest buys $15.6m shares of ether treasury firm bitmine
Ark Invest bought 339,113 BMNR shares
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Overview

  • ARK disclosed buying 339,113 BMNR shares on Aug. 27 across ARKK, ARKW and ARKF for roughly $15.6 million.
  • Allocations included 227,569 shares in ARKK, 70,991 in ARKW and 40,553 in ARKF, according to the firm’s trading filings.
  • BMNR fell 7.85% to $46.03 on Wednesday and slipped about 2.2% in after-hours trading as Ethereum pulled back.
  • BitMine, led by Tom Lee, holds about 1.7 million ETH valued near $7.7–$7.8 billion, placing it among the largest corporate ether treasuries.
  • ARK has been steadily accumulating BMNR in recent weeks, including a $174 million buy on July 21 and a $17 million addition on Aug. 2, as dealers flagged volatility and noted BMNR’s one-month outperformance versus ETH.