Ark Invest Asset Management Firm, led by Cathie Wood, has completed a $116 million investment in Bitmine Immersion Technologies (BMNR), the leading global ranking of Ether Corporate Tenure (ETH), a global ranking (ETH), Ethereum Cryptocurrency.
In total, ARK acquired 4.4 million shares through some of the funds cited in the stock market. The main receiver was an ETF from Innovation ARKK, which absorbed approximately 2.9 million shares.
This decision occurs when the ether maintains a sustained upward trend at current values above $3,700 An increase of 62% last month.
Bitmine has emerged as a central figure in the ETH accumulation corporate strategy and is the largest holding of this cryptocurrency to date. On June 30, the company closed its $250 million private placement and was able to raise its reservation to 300,657 ETH, just like reported encryption. These bookings are already over $1,000 million.
Thomas Lee, chairman of the Bitmine board of directors, indicated that the aim is to win and participate in staking staking 5% of Ethereum’s total supply.
Bitmine’s strategy has generated a comparison with Michael Saylor’s company, in relation to Bitcoin. In this case, the approach is concentrated on ether as a financial asset. Support from Ark Invest could strengthen this narrative and stimulate the interest of other institutional actors in ETH as part of the balance.
In addition to investing in BMNR, ARK also made a major sale at Coinbase (Coin). Selling 218,986 shares at an approximate value of $90.6 million. The sale comes shortly after Coinbase’s shares reach a historic maximum of over $437 after approval of the Genius Act in the US Representative Office.
