Oh, the thrill of it all! Cathie Wood’s ARK Invest has done it again, buying another $15.6 million worth of shares in Bitmine Immersion Technologies (BMNR). That’s right, folks, they’re doubling down on their love affair with this company, bringing their total investment to a whopping $300 million plus. 🤑
On Wednesday, ARK Invest’s three funds-ARKK, ARKW, and ARKF-showed their undying affection for Bitmine. ARKK bought 227,569 shares, ARKW swooned over 70,991 shares, and ARKF couldn’t resist 40,553 more shares. Talk about commitment! 💍
But wait, there’s more! ARK Invest’s BitMine holdings, which are essentially a cheeky wink at Ether, are now almost half the size of their investment in Coinbase. They hold a cool $676 million in COIN, even after selling 5,721 shares last week. Who needs a boyfriend when you have a portfolio like that? 😏
Cathie Wood’s love story with BitMine began on July 21, when she spent $174 million in a single day, buying shares across her three funds. She wasn’t done yet, adding another $17 million worth of BMNR stock on Aug. 2. Talk about a serial investor! 🏃♀️💨
ARK Invest is famous for its bold moves in disruptive tech like blockchain, AI, and gene editing. This latest purchase suggests they’re bullish on ETH treasury companies, especially since Bitmine’s ETH holdings hit the $7.5 billion mark. It’s like they’re saying, “We believe in the future, and we’re not afraid to show it!” 🌟
Crypto Stocks: The New Romance
But why stop at BitMine? ARK Invest has been playing the field with other crypto-related stocks too. Over the past week, they’ve added $21.2 million worth of Bullish stock and $16.2 million worth of Robinhood Markets. As of Wednesday, they held a staggering $543 million in Robinhood stock. It’s like a buffet of tech stocks! 🍽️
Earlier this month, they even bought $19.2 million worth of Block shares after a long break-up. Sometimes, it’s good to get back together with your ex, especially if they’re a solid investment. 🤝
Bitmine Shares: A Rollercoaster Ride
However, not all is smooth sailing. Bitmine shares took a nosedive on Wednesday, closing at $46.03, down nearly 8%. The after-hours trading session saw them fall another 2.22%, settling at $45.01. But hey, a little turbulence never hurt anyone, and the stock is still up 490% year-to-date. That’s what I call resilience! 💪
In the quarter ending May, Bitmine reported a revenue of $2.05 million, a 67.5% increase from the same period last year. Their net profit margin also grew by 43%. So, while the ride might be bumpy, the destination looks promising. 🚀
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2025-08-28 09:47