Cathie Wood’s Ark Invest Buys Bitmine Shares Amid ETH Treasury Plan

TLDR

Table of Contents

Ark Invest bought 339,113 Bitmine shares worth $15.6M during a 7.85% dip.
Bitmine now holds 1.7 million ETH valued at $7.81 billion in reserves.
The company raised its equity program from $4.5B to $24.5B to buy more ETH.
Peter Thiel invested $500 million in Bitmine in the previous month.

Cathie Wood’s Ark Invest has increased its exposure to Bitmine Technologies (BMNR), purchasing 339,113 shares valued at $15.6 million. The buy comes as the stock dropped by 7.85% on Wednesday, August 27. Ark made the purchase across three of its major ETFs, reaffirming investor interest in Bitmine’s growing Ethereum (ETH) treasury position and strategic expansion plans.

Ark Invest Adds to Holdings as BMNR Stock Falls

Ark Invest executed its latest purchase of BMNR stock despite a nearly 8% decline in share price on the day. According to the firm’s daily trade filing, 227,569 shares were added by the ARK Innovation ETF (ARKK), 70,991 shares by the ARK Next Generation Internet ETF (ARKW), and the rest by the ARK Fintech Innovation ETF.

The total value of the transaction reached $15.6 million, bringing Ark’s total BMNR holdings above 1.3 million shares. Ark had already accumulated over 1 million BMNR shares in earlier trades. This move signals the firm’s sustained interest in Bitmine’s Ethereum-based financial strategy.

Bitmine stock has seen large gains since announcing its Ethereum treasury plan earlier this year. Even with recent volatility, the stock has gained over 750% in 2025. Investors have been closely following Bitmine’s growing ETH holdings, which now stand at 1.7 million ETH, worth about $7.81 billion.

Bitmine Expands Ethereum Holdings and Equity Program

Bitmine Technologies, led by investor Tom Lee, continues to grow its Ethereum reserves. The firm confirmed earlier this week that it added another $800 million worth of ETH, increasing total holdings to 1.7 million ETH. These reserves now make Bitmine one of the largest institutional holders of Ethereum.

In an August SEC filing, Bitmine revealed it would expand its at-the-market equity offering from $4.5 billion to $24.5 billion. The additional capital will support more ETH acquisitions as part of its long-term strategy. Tom Lee has publicly compared the move to Bitcoin strategies used by other public firms, saying, “We believe Ethereum will become a core financial asset.”

This aggressive accumulation mirrors past Bitcoin treasury strategies by firms like MicroStrategy. Ethereum’s current price, trading near $4,500, has created an entry point for firms looking to expand ETH positions.

Institutional Backing Grows Around Bitmine

Bitmine is also attracting interest from other major investors. Last month, billionaire Peter Thiel invested over $500 million into the company. This backing adds to the firm’s credibility and suggests growing belief in Ethereum as a store of value and financial asset.

With Ethereum prices pulling back from their recent all-time highs, Tom Lee said in a recent statement that he expects a 20% rally ahead. “The bottom is likely in, and we see ETH heading toward $5,500,” he said.

Other companies have been slower to match Bitmine’s scale. SharpLink Gaming (NASDAQ: SBET), another ETH-holding firm, has less than half the ETH that Bitmine currently holds, sitting at 797,000 ETH. Bitmine’s rapid treasury growth sets it apart in the emerging ETH-focused corporate landscape.

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