Ethereum Bullishness: Ark Invest Boss Scoops $16-M More In BitMine Stock

BitMine Immersion Technologies saw its stock sink nearly 8% this week, yet that didn’t stop Cathie Wood’s ARK Invest from pouring another $15.6 million into the ￰0￱ Reading: A New Vision For Money: Hoskinson Predicts Bitcoin Will Hit $10 Trillion The latest move comes during a period of heightened volatility in both equities and crypto ￰1￱ Expands Its Holdings According to ARK’s trading disclosures on August 27, the firm bought 339,113 BitMine shares spread across three ￰2￱ ARK Innovation ETF acquired 227,569 shares valued at a little over $10 million, while the Next Generation Internet ETF added 70,991 shares worth $3.27 ￰3￱ Fintech Innovation ETF purchased another 40,553 shares for $1.87 ￰4￱ this fresh round of buying, BitMine shares ended the day at $46 before sliding 7.80% in extended ￰5￱ Wood and Ark Invest bought 339,113 shares of Tom Lee’s $BMNR today ￰6￱ — Tom Lee Tracker (@TomLeeTracker) August 28, 2025 Ethereum Strategy Draws Institutional Attention BitMine’s pivot from Bitcoin mining to an Ethereum-focused treasury earlier this summer has transformed the firm into a major corporate player in ￰7￱ balance sheet now holds 1,714,000 ETH, worth about $8.20 billion, alongside 192 Bitcoin and $562 million in ￰8￱ makes BitMine the world’s largest corporate holder of ￰9￱ investor Peter Thiel has also taken a 9% stake, adding more weight to the firm’s rapid ￰10￱ to latest data, the company’s strategy has fueled sharp price movements in its ￰11￱ surging more than 3,000% to a record high of $135 in early July, shares remain up more than 400% year-to-date despite recent ￰12￱ Equity Offering Fuels Expansion Reports have disclosed that BitMine dramatically expanded its fundraising ￰13￱ August 12, the company filed to boost its at-the-market equity offering from $2 billion to $24.5 billion, a move led by Cantor Fitzgerald and ￰14￱ say the new funds will give BitMine more firepower to build its Ethereum ￰15￱ projected strong gains for Ethereum, predicting $5,500 in the near term and as high as $12,000 by ￰16￱ those targets materialize and BitMine pushes toward its 5% supply goal, the company could one day rival Michael Saylor’s Strategy in ￰17￱ Reading: Dogecoin Gears Up For Triple Surge ￰18￱ – Details A New Corporate Champion For Ethereum?

Social media reaction has been quick to frame BitMine as Ethereum’s version of Strategy — a corporate vehicle for institutional exposure to the asset. ARK’s growing position, surpassing $200 million this summer, only strengthens that ￰19￱ the risks are just as visible. BitMine’s share price swings highlight how concentrated bets can move violently, even with billions of dollars on the balance ￰20￱ image from Meta, chart from TradingView