.png)
2 months ago
7
Bitmine is one of the largest corporate holders of ether, having purchased over 1.7 million ETH, worth just under $8 billion at current prices.
Aug 28, 2025, 8:48 a.m.
ARK Invest bought $15.6 million shares of ether treasury company Bitmine Immersion Technologies (BMNR) on Wednesday.
The St. Petersburg, Florida-based investment manager added a total of 339,113 BMNR shares to three of its exchange-traded funds (ETFs) — Innovation (ARKK), Next Generation Internet (ARKW) and Fintech Innovation (ARKF) — according to an emailed notification.
Bitmine shares fell 7.85% to $46.03 on Wednesday.
The company, led by Fundstrat's Tom Lee, is one of the largest corporate holders of ether, having purchased over 1.7 million tokens, worth just under $8 billion at current prices.
The Cathie Wood-led Ark Invest often loads up on shares in companies when their shares take a hit and offloads them when they've enjoyed a surge to maintain its targeted weighing of different holdings within its ETFs.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
More For You
YZY Hype Machine Leaves Traders Nursing Millions in Losses on Ye-Linked Token
More than 51,800 addresses lost $1-$1,000, 5,269 are down $1,000-$10,000 and 1,025 shed $10,000-$100,000, Bubblemaps said.
What to know:
- Over 70,000 wallets suffered losses from the YZY token launch, with most losing between $1 and $1,000, Bubblemaps said.
- Insiders and early investors profited significantly, while the majority of traders faced losses totaling some $8.2 million.
- The YZY token's market cap has plummeted to $544.9 million, reflecting a sharp decline from its initial valuation.
