ARK Invest has purchased approximately $182 million worth of BitMine common stock, acquiring 4,773,444 shares of the company (ticker: BMNR).
BitMine has announced plans to allocate the vast majority of these proceeds—nearly $177 million—toward Ethereum (ETH) acquisitions, signaling a strategic expansion into digital asset diversification beyond its core operations.
This move reflects BitMine’s intent to leverage Ethereum’s established blockchain ecosystem for long-term value growth. It also aligns with an industry-wide trend of cryptocurrency mining companies broadening their holdings to optimize asset performance and mitigate market volatility risks.
The substantial ETH allocation positions BitMine to capitalize on Ethereum’s network utility and potential appreciation while reinforcing institutional confidence in the digital asset sector’s maturation.