Cathie Wood's Ark Invest acquired 339,000 shares of Bitmine Immersion Technologies (BMNR) for $15.6 million on August 27, 2025, through its three flagship ETFs (ARKK, ARKW, and ARKF). This significant investment comes despite Bitmine's stock price experiencing a substantial drop, closing at $46.03 with an additional 2.22% decline in after-hours trading.
The acquisition aligns with Bitmine's strategic shift toward Ethereum as its primary treasury asset, a move backed by Wall Street strategist Tom Lee. Cathie Wood commented: "We're excited about Bitmine's focus on Ethereum and believe this dip presents a strategic opportunity for our funds." She further emphasized Ark's confidence in Ethereum's role as institutional infrastructure evolves.
Tom Lee noted that Bitmine's ETH-backed treasury sets a standard for transparency and alignment with the programmable economy. While the immediate market reaction was negative with BMNR shares falling 7.85% initially, analysts suggest this investment highlights growing institutional interest in Ethereum-focused infrastructure and could stimulate broader adoption of staking and Ethereum-related solutions.