ARK Invest Expands Its Bet On BitMine With $15.6 Million Share Purchase
ARK Invest has deepened its position in BitMine Immersion Technologies (BMNR), spending $15.6 million on 339,113 shares across three of its exchange-traded funds.
The purchase was made on 27 August as the stock slipped nearly 8% to $46.03 before dipping further in after-hours trading to $45.01.
Despite the pull-back, BitMine remains one of the year’s most dramatic risers, climbing more than 490% since January.
Breakdown Of ARK’s Latest Allocation
The filing showed that ARK Innovation ETF (ARKK) bought the largest portion with 227,569 shares, while ARK Next Generation Internet ETF (ARKW) added 70,991 shares and ARK Fintech Innovation ETF (ARKF) took 40,553 shares.
This brings ARK’s total investment in BitMine to more than $300 million, almost half the size of its $676 million Coinbase holding.
ARK trimmed its Coinbase stake slightly last week, selling 5,721 shares.
BitMine’s Expanding Ethereum Treasury
BitMine has positioned itself as a treasury vehicle for Ether, holding reserves that now stand at 1.71 million ETH worth roughly $7.9 billion, alongside cash and other assets that take its total holdings to $8.82 billion.
Earlier this month, the company disclosed that it had filed with the Securities and Exchange Commission to expand its at-the-market equity programme from $4.5 billion to $24.5 billion to finance further ETH purchases.
Stock Pull-Back Amid Broader Rally
The timing of ARK’s purchase came as BitMine shares cooled after a sharp rally, even while Ether itself gained from about $3,900 on 8 August to around $4,600.
The stock has now declined more than 11% over the past five days but still remains one of the best-performing crypto-related equities of 2025.
In its most recent quarterly results, BitMine reported revenue of $2.05 million, up 67.5% year-on-year, with its profit margin improving by 43%.
Crypto-Focused Buying Spree Extends To Other Firms
ARK Invest has also been active elsewhere in the crypto and fintech space.
On 20 August, it bought $21.2 million worth of Bullish shares and $16.2 million of Robinhood stock, bringing its Robinhood holdings to $543 million.
Earlier this month, the firm added $19.2 million of Block shares after a period of selling.
At the same time, ARK boosted its exposure to Advanced Micro Devices by 91% while trimming its stake in Palantir Technologies by over a third.