Cathie Wood’s Ark Invest buys another $15.6M shares of Bitmine

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Cathie Wood’s investment manager Ark Invest bought $15.6M shares of ether treasury company Bitmine Immersion Technologies (NYSE:BMNR [https://seekingalpha.com/symbol/BMNR]) on Wednesday across three of its actively managed exchange traded funds.

The bulk of the purchase came through Ark’s flagship ARK Innovation ETF (BATS:ARKK [https://seekingalpha.com/symbol/ARKK]), which acquired 227,569 shares of Bitmine. Meanwhile, the ARK Next Generation Internet ETF (BATS:ARKW [https://seekingalpha.com/symbol/ARKW]) added 70,991 shares, and the ARK Fintech Innovation ETF (BATS:ARKF [https://seekingalpha.com/symbol/ARKF]) picked up another 40,553 shares.

Bitmine (NYSE:BMNR [https://seekingalpha.com/symbol/BMNR]) closed at $46.03 on Wednesday, down 7.8%. Shares were up 2.5% premarket on Thursday.

The company, headed by Fundstrat’s Tom Lee, ranks among the largest corporate holders of ether, with more than 1.7 million tokens valued at nearly $8 billion at current prices.

Cathie Wood began accumulating BitMine shares on July 21, purchasing $174 million worth across three funds in a single day. On August 2, her firm added another $17 million in BMNR stock across its funds.

ARK Invest has also been actively building positions in other cryptocurrency-related stocks, holding significant positions in Coinbase Global (COIN [https://seekingalpha.com/symbol/COIN]) and crypto exchange Bullish (BLSH [https://seekingalpha.com/symbol/BLSH]). The company boosted its holdings with purchases of $21.2 million in Bullish shares and $16.2 million in Robinhood Markets (HOOD [https://seekingalpha.com/symbol/HOOD]) on August 20.

MORE ON BITMINE IMMERSION TECHNOLOGIES, ARK INNOVATION ETF, ETC.

* ARKK And QQQM: More Reasons To Go With QQQM [https://seekingalpha.com/article/4816100-arkk-and-qqqm-more-reasons-to-go-with-qqqm]
* ARKW: Aggressive, Highly Volatile Tech Growth Play With Bitcoin Exposure [https://seekingalpha.com/article/4815310-arkw-aggressive-highly-volatile-tech-growth-play-with-bitcoin-exposure]
* ARKF: Investing In Innovative Fintech [https://seekingalpha.com/article/4814979-arkf-investing-in-innovative-fintech]
* BitMine Immersion raises ether holdings by 33% in past week [https://seekingalpha.com/news/4488981-bitmine-immersion-raises-ether-holdings-by-33-in-past-week]
* BitMine Immersion ramps up ether holdings to $6.6B in past week [https://seekingalpha.com/news/4486615-bitmine-immersion-ramps-up-ether-holdings-to-66b-in-past-week]