Ark Invest Invests $15.6M in BitMine, Boosting Ethereum Focus

Investment giant Ark Invest has significantly increased its stake in cryptocurrency company BitMine Immersion Technologies, making a strategic purchase worth $15.6 million across three of their exchange-traded funds (ETFs). This move aligns with the firm’s ongoing interest in blockchain infrastructure and positions Ark as one of BitMine’s largest shareholders. 8% stock drop followed the announcement, but year-to-date performance shows a 490% surge for BitMine, highlighting the potential impact of institutional investments on crypto markets.