NEW YORK – Cathie Wood's ARK Invest has increased its position in BitMine Immersion Technologies (BMNR), acquiring an additional 101,950 shares for approximately $4.4 million on Monday. The move coincided with BitMine's major announcement that its corporate treasury had surpassed 2 million Ethereum (ETH), a holding now valued at an estimated $8.9 billion.
The purchase was distributed across three of ARK's exchange-traded funds (ETFs), including the flagship ARK Innovation ETF (ARKK), which now maintains a 2.6% allocation to BitMine stock. In total, ARK's three funds now collectively hold 6.7 million BitMine shares, valued at $284 million.
The investment underscores BitMine's rapid rise as the world's largest corporate holder of Ethereum, now controlling 1.7% of the total circulating supply. The market reacted positively to the milestone, with BitMine shares surging 4.1% to $44.10 in after-hours trading. The stock has delivered a remarkable 460% return year-to-date, driven by its aggressive ETH accumulation strategy.
BitMine, chaired by veteran analyst Tom Lee, has collected 42% of all corporate-held Ethereum globally in just five months. The company has stated its ambitious long-term goal is to acquire 5% of Ethereum's total supply.
"We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years," Lee stated in recent comments, expressing confidence in the company's long-term strategy.
The bullish sentiment is further supported by macroeconomic factors, with futures markets indicating a high probability of a Federal Reserve rate cut. Lee has highlighted that lower interest rates could provide additional tailwinds for both crypto assets and small-cap equities like BitMine.
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