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yesterday

BitMine’s Ethereum Treasury Tops $2.4 Billion as Shares Slide and ARK Invest Increases Stake

A shelf registration filing that drove shares down over 15% prompted the board to unveil a $1 billion repurchase plan.

Ark invest buys the dip on ether strategy firm bitmine with $18.6m purchase
Bitmine immersion sets up to $1b buyback as share price cools
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Overview

  • BitMine holds about 625,000 ETH valued at roughly $2.4 billion and 192 BTC, making it the largest corporate Ethereum treasury.
  • Chairman Tom Lee said the repurchase plan supports BitMine’s broader strategy to acquire and stake up to 5% of Ether’s circulating supply.
  • Stock tumbled 15.1% in after-hours trading following the announcement of a shelf registration for resale by existing shareholders.
  • ARK Invest deployed around $20 million to acquire additional BitMine shares through its ARKF, ARKK and ARKW ETFs.
  • ARK’s ETFs also increased positions in Alphabet and NVIDIA while trimming stakes in Robinhood and Palantir to rebalance their portfolio exposure.