Thu Sep 11 10:30:00 UTC 2025: **FOR IMMEDIATE RELEASE**
**ARK Invest Doubles Down on BitMine as Ethereum Treasury Hits Milestone**
**New York, NY – July 26, 2024** – Cathie Wood’s ARK Invest significantly increased its stake in BitMine Immersion Technologies (BMNR), a Tom Lee-chaired firm specializing in Ethereum (ETH) treasury management, following BitMine’s announcement that its ETH holdings surpassed a landmark 2 million.
On Monday, ARK Invest purchased 101,950 shares of BMNR, valued at approximately $4.4 million, distributed across three of its exchange-traded funds (ETFs): the Ark Innovation ETF, the Ark Next Generation Internet ETF, and the ARK Fintech Innovation ETF. This brings ARK Invest’s total holdings in BitMine to 6.7 million shares, currently worth $284 million.
This move signals a strengthened conviction in Ethereum’s long-term potential. ARK Invest has been steadily increasing its exposure to BitMine since the company began accumulating Ether as a treasury asset in April.
BitMine shares reacted positively to the news, surging 4.1% in after-hours trading to reach $44.10. The stock has seen remarkable growth this year, climbing 460% since January.
The surge in ARK Invest’s holdings coincides with BitMine’s announcement that it now controls over 2 million ETH, valued at roughly $8.9 billion. In just five months, BitMine has amassed 1.7% of the entire Ether supply, positioning itself as the world’s largest Ether treasury company, holding 42% of the total 4.9 million ETH held by corporations.
“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” stated BitMine chairman Tom Lee. BitMine is currently only 34% toward its goal of acquiring 5% of Ether’s total supply.
Lee is optimistic on the market outlook, foreseeing the Federal Reserve cutting interest rates will be a dual positive that boosts business confidence and is supportive of small-cap and crypto assets.
First Piper 