ARK Invest Doubles Down on BitMine, Expanding Cryptocurrency Holdings

Investment management firm ARK Invest has significantly increased its stake in BitMine Immersion Technologies, further highlighting the firm’s strong belief in Ethereum. Through three of their exchange-traded funds (ETFs), ARK invested an additional $284 million in BitMine stock, bringing its total holdings to over $600 million. This move comes on the heels of a recent surge in BitMine’s Ethereum holdings which now exceed $9 billion, putting it in the top 1% of all ETH holders.