ARK Invest Doubles Down on BitMine Holdings Amid Ethereum Milestone

Cathie Wood's ARK Invest has increased its stake in BitMine Holdings, purchasing over 100,000 shares across three funds. The investment totaled $4.4 million and represents a significant expansion of ARK's existing position.

The buying momentum comes as BitMine announced it had reached 2 million Ethereum in total holdings, valued at approximately $8.9 billion. This milestone accounts for 1.7% of Ethereum's entire supply, making BitMine the world's largest corporate Ethereum holder.

ARK's three funds now collectively hold 6.7 million BitMine shares valued at $284 million. The investment firm has consistently increased its exposure to BitMine as it expanded its Ethereum treasury operations.