ARK Invest financed the purchase of ETH miner BitMine for $182 million

The funds will be used to purchase ETH

ARK Invest has bought $182 million worth of shares of BitMine miner

23.07.2025 - 14:05

686

3 min

What’s new? Asset management company ARK Invest, led by Cathie Wood, has bought 4 773 444 common shares of miner BitMine Immersion Technologies (BMNR) for a total of $182 million. BitMine intends to use 100% of the net profit ($177 million) from the transaction to purchase native tokens of the Ethereum blockchain.

Press release

What else is known? BitMine specializes in accumulating cryptocurrency obtained through mining and capital raising transactions. The company’s areas of activity include Bitcoin mining, capacity leasing, and consulting services.

BitMine’s production facilities are located in regions with low energy costs in Trinidad, as well as Pecos and Silverton in Texas.

In June, BitMine announced that it had raised $18 million through a public offering to increase its assets in BTC. In July, the company doubled its investment in Ethereum and accumulated 163 000 coins worth $500 million.

Also in July, documents from the US Securities and Exchange Commission (SEC) revealed that PayPal co-founder and investor Peter Thiel indirectly owns a total of 5 094 000 Bitmine shares through several affiliates. This amount represents 9,1% of the total number of shares issued.

Miner Bit Digital has abandoned BTC mining in favor of ETH staking

The company will convert all of its bitcoin holdings into the largest altcoin

“We are delighted that Cathie Wood’s ARK Invest is taking a substantial stake in BitMine, as she sees the exponential opportunity ahead as we target reaching 5% of ETH. Cathie is a pioneer of exponential investing, having made early and profitable investments in Tesla, Bitcoin, and AI.

Most recently, she was an anchor investor in Circle (ticker-$CRCL), one of the most notable IPO’s in the past 6 years,” said Thomas Lee of Fundstrat, Chairman of BitMine’s Board of Directors.

Cathie Wood’s Ark Invest has invested $9,4 million in crypto broker eToro

At the same time, the company sold shares of its own bitcoin fund for almost $8 million

At the end of June, ARK Invest sold a total of 1,25 million shares of Circle (CRCL) for $243 million in a series of transactions. The company began selling because the securities rose sharply in price after the IPO in early June.

Author: