Despite a recent drop in BitMine (BMNR) stock price, Cathie Wood’s Ark Invest has significantly increased its investment in the firm. The move involves purchasing $15.6 million worth of BitMine shares across three ETFs – ARKK, ARKW, and ARKF – highlighting Ark’s continued belief in the company’s long-term value. This follows news that BitMine’s crypto and cash reserves have reached $8.82 billion, fueled by substantial Ethereum holdings (1.71 million ETH worth approximately $7.9 billion). 534.9% year-to-date gains in the firm’s stock reflect a positive trend. Ark’s decision to increase its investment comes as BitMine expands its treasury holdings and seeks to further diversify through its newly authorized equity program, now valued at $24.5 billion. This move signals a continued bullish outlook on the company despite near-term market fluctuations.