Cathie Wood’s ARK Invest has taken a fresh position in Bitmine Immersion Technologies (BMNR), acquiring $15.6 million worth of stock on Wednesday.
The investment firm purchased 339,113 shares across three of its ETFs — ARK Innovation (ARKK), ARK Next Generation Internet (ARKW), and ARK Fintech Innovation (ARKF) — according to a filing.
Bitmine shares slipped 7.85% to $46.03, even as ARK built its stake.
Led by Fundstrat’s Tom Lee, Bitmine ranks among the largest ether treasury holders, with more than 1.7 million ETH valued at nearly $8 billion.
ARK has a history of buying into companies during market dips and paring back positions after rallies to keep ETF weightings in balance.
