BitMine Immersion Rises After ARK Invest Buys $182 Million in Ethereum Treasury Shares

Key Points

1. BitMine Immersion shares rose over 800% in the past month after shifting focus to Ethereum accumulation, including a $500 million purchase last week.

2. ARK Invest bought more than 4.7 million shares of BMNR worth $182 million, adding to its ARKK, ARKW, and ARKF ETFs.

3. BitMine aims to acquire and stake 5% of all Ethereum, with its strategy kick-started by a $250 million private placement on June 30.

4. Ethereum's price has increased by 45% over the past month, trading at around $3,725, despite a slight recent dip.

5. Other firms like SharpLink Gaming and Bit Digital have also been accumulating Ethereum, with SharpLink holding over $1.3 billion in ETH and Bit Digital purchasing 19,683 ETH.