ARK Invest Boosts Bet on BitMine Immersion With $15.3M Stock Purchase
Cathie Wood’s ARK Invest added to its position in BitMine Immersion Technologies (BMNR) for a second consecutive day, acquiring 477,498 shares worth approximately $15.3 million on Tuesday.
The shares were distributed across ARK’s flagship Innovation ETF (ARKK), the Next Generation Internet ETF (ARKW), and the Fintech Innovation ETF (ARKF), according to the firm’s latest trade disclosure.
The purchase follows Monday’s larger buy of 529,366 BMNR shares, signaling growing confidence in BitMine’s ether treasury model despite ongoing price weakness.
BMNR shares closed 8.9% lower on Tuesday at $32, extending losses after peaking at $135 earlier this month. The stock has been volatile amid broader altcoin headwinds and increased institutional rotation.
