Investment firm Ark Invest, headed by CEO Cathie Wood, has deployed $175 million into Ethereum-focused crypto mining company Bitmine Immersion (BMNR) while simultaneously reducing positions in major fintech and crypto equities. The strategic shift highlights the firm’s targeted confidence in the Ethereum mining infrastructure sector amid broader portfolio repositioning.
Ark Invest acquired over 4.4 million shares of Bitmine Immersion, totaling nearly $175 million. This investment underscores the firm’s bullish stance on Ethereum’s ecosystem development and the specialized mining operations supporting its network security and growth.
Concurrently, the firm executed significant divestitures across its portfolio, selling approximately 219,000 shares of Coinbase (COIN) valued at $90.58 million. Additional reductions included Robinhood (HOOD) shares worth $11.46 million and Block (SQ) shares totaling $7 million, signaling a reallocation away from certain exchange and payments-focused holdings.
The combined transactions reflect Ark Invest’s disciplined approach to capital deployment within the evolving digital asset landscape, emphasizing infrastructure plays while trimming exposure to select established crypto-correlated equities.