ARK Invest Acquires $18.6 Million in BitMine Immersion Technologies Shares
ARK Invest acquired $18.6 million in shares of BitMine Immersion Technologies (BMNR), purchasing 529,366 shares for its ARKK and ARKW ETFs.
- BMNR's share price fell over 11.8% to $35.11, down 74% from a high of $135 earlier this month.
- BitMine is one of the largest corporate holders of ether, owning more than 300,000 ETH valued at over $1 billion.
- Several companies are building Ethereum treasuries, following strategies similar to Michael Saylor's bitcoin approach.
- ETH's price increased approximately 57% in July, nearing $3,900.
- ARK sold nearly $7 million in Coinbase (COIN) shares and $15 million in Block (XYZ) shares.