ARK Invest increases BitMine stake despite offloading $30 million in Tesla shares

Cathie Wood’s ARK Invest has sold approximately $30 million worth of Tesla ￰0￱ and invested in BitMine Immersion ￰1￱ firm sold 71,638 shares of Tesla across its flagship exchange-traded funds, according to ARK’s daily trading ￰2￱ shift in interest occurred despite ARK having maintained Tesla as its primary investment since ￰3￱ to a daily trading note, ARK also acquired 48,454 shares in the Ether treasury firm BitMine , which is owned by Tom Lee, valued at approximately $2 million. Notably, these shares were bought via three of its exchange-traded funds (ETFs). This includes the ARK Next Generation Internet ETF, the ARK Innovation ETF, and the ARK Fintech Innovation ￰4￱ Wood has been accelerating its acquisition of crypto stocks even while markets are ￰5￱ the most popular crypto companies, the veteran investor has stakes in Circle Internet Group, Coinbase Global, and Robinhood Markets.

Wood’s ARK Invest shifts its interest towards BitMine from Tesla Since April of this year, Wood’s ARK Invest has begun purchasing more shares of BitMine, thereby increasing its stake in the ￰6￱ the time, the company expected BitMine to shift towards the Ethereum treasury strategy officially. However, the firm began gathering ETH as a treasury asset in late June 2025, and the initiative officially launched on June 30, ￰7￱ ARK’s decision to invest in the company, data from Google Finance revealed that BitMine shares soared by 7.65%, reaching an all-time high of $40.23 in after-hours trading. Additionally, the stock has increased an impressive 415% since the beginning of the ￰8￱ the meantime, ARK sold approximately 71,638 Tesla shares across its funds, a position valued at roughly $30 million based on Tesla’s closing price of $429.52.

A handful of analysts also expressed views about the ￰9￱ conducting some research, they observed that ARK’s decision had followed Tesla shareholders’ approval of a nearly $1 trillion pay package for Elon Musk, the company’s chief ￰10￱ enough, about 75% of the voting shares for the proposal were in favor – despite significant concerns raised by high-profile proxy advisors like ISS and Glass ￰11￱ announcement was made at Tesla’s annual meeting in Austin, ￰12￱ indicated that he would now increase his stake by approximately 13% to as much as 25%, which will give him more influence over the ￰13￱ the other hand, the compensation package comprises 12 portions of stock connected to performance targets that range from a $2 trillion market cap up to $8.5 ￰14￱ from CryptoQuant indicates BitMine is facing about $2.1 billion in unrealized losses on its Ether holdings because the values of digital tokens have fallen ￰15￱ fall has had a significant impact on digital asset treasuries as well.

Nevertheless, industry data suggest that BitMine has nearly 3.4 million ETH and has purchased over 565,000 ETH in the past ￰16￱ Invest increases its Bullish holdings with more share purchases Wood’s ARK Invest earlier added to its holdings of the Bullish crypto exchange by purchasing about 238,000 shares worth roughly $12 million across its main ￰17￱ to ARK’s daily trading update, the ARK Innovation ETF purchased 164,214 shares, while both the ARK Next Generation Internet ETF and the ARK Fintech Innovation ETF added 49,056 and 25,076 shares, ￰18￱ firm also purchased over $5 million of Bullish shares across various ￰19￱ has continued to buy since Bullish went public on the New York Stock Exchange at a valuation of $1.1 ￰20￱ this time, it bought about $172 million worth of shares across its ￰21￱ cryptocurrency exchange will report its third-quarter earnings on November ￰22￱ the second quarter, it reported $57 million in adjusted revenue, compared with $67 million in the corresponding quarter a year ￰23￱ net income totaled $108.3 million in the second quarter, compared to a net loss of $116.4 million in the same period a year ago.

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