Cathie Wood’s Ark Invest bought another $ 15.6 million of shares with Bitmine Immersion Technologies (BMNR), which brings total investment to the company to over $ 300 million.
Ark invest bought Shares on Wednesday throughout its three funds, including the Ark Innovation ETF (Arkk) who bought 227,569 shares, followed by Ark Next Generation Internet ETF (ARKW) with 70,991 shares and Ark Fintech Innovation ETF (ARCF), which bought 40,553 shares.
The Bitmine Holdings of Ark Invest, which can also be seen as a stake in Ether, is now about half the size of its investment in Coinbase.
The company holds nearly $ 676 million worth of coins after selling 5,721 coin shares last week.
Cathie Wood started buying Bitmine on July 21, buying $ 174 million of its shares in three funds a day. Buy it another $ 17 million worth of BMNR stock to its full funds on August 2.
Ark Invest is known to make big bets on disturbing technology such as blockchain, artificial intelligence, gene editing and more. The latest purchases of the company may reflect its bullish on ETH treasury companies as Bitmine’s ETH Holdings recently reached the $ 7.5 billion mark.
Crypto stock additions
Ark Invest is also aggressively getting other crypto -related equities.
The company has been added to its existing positions last week, purchase $ 21.2 million worth of bullish stock and $ 16.2 million worth of robinhood market On August 20.
Related: Ark Invest Scoops $ 172m to Bullish Shares as Stock Soars 84% on Debut
As Wednesday, Ark Invest will be held around $ 543 million worth of robinhood stock throughout its funds.
Earlier this month, the company Buy $ 19.2 million worth of block shares After a prolonged period of stock sale.
Bitmine shares have fallen
Bitmine shared in Wednesday’s trading session at $ 46.03, which dropped nearly 8%. Shares fell another 2.22% to terminate the trading session after $ 45.01, According to In Google Finance.
Despite falling on Wednesday, the stock is still 490% year-to-date.
During the quarter end of May, the company reported its income to $ 2.05 million, an increase of 67.5% from the same quarter last year, while its net profit margin rose 43% at the same time.
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