ARK Invest’s $15M Gamble: Is BitMine the New Crypto Darling? 🎰

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Key Takeaway

Cathie Wood’s ARK Invest, ever the optimist, continues to shower BitMine Immersion (BMNR) with cash, as if Tom Lee’s Ethereum strategy were a Shakespearean tragedy everyone’s dying to fund. 🎭 Despite market turbulence, BMNR shares still pirouette 490% above their 2023 debut, buoyed by revenue growth that’d make a Victorian accountant blush.

Cathie Wood’s ARK Invest, armed with the financial recklessness of a poet in love, injected $15.6 million into Bitmine Immersion Technologies (BMNR) last week, swelling its total stake past $300 million. 💸

According to the Tom Lee Tracker, on August 27th, ARK acquired 339,113 shares across three ETFs-because why put all your eggs in one basket when you can diversify your crypto bets? 🤹♂️

The ARK Innovation ETF (ARKK) swallowed 227,569 shares, ARKW nibbled 70,991, and ARKF snacked on 40,553. Meanwhile, the stock plummeted 7.85%, proving optimism is a language spoken in a different dialect from reality. 📉

Cathie Wood’s Ark Invest doubles down on BMNR

Wood began her BMNR courtship in late July, just as Tom Lee’s Ethereum strategy started smelling suspiciously like a speculative perfume. 🧨

Currently, ARK’s BMNR holdings are nearly half its Coinbase stash ($676 million), even after recently shedding 5,721 COIN shares. Because nothing says “confidence” like trimming your largest holding while doubling down on the risky newcomer! 🃏

ARK’s love affair with BitMine escalated on July 21, when it splurged $174 million in a single day, followed by a $17 million encore on August 2. The firm’s Ethereum infatuation now borders on poetic, with BMNR’s ETH reserves swelling to $7.5 billion. 🌊

Analyzing ARK Invest’s crypto exposure

While BMNR dominates ARK’s crypto playlist, the firm’s also been binge-buying Bullish stock ($21.2M), Robinhood shares ($16.2M), and Block scrips ($19.2M). 📊

This eclectic portfolio suggests ARK’s strategy is less “calculated” and more “let’s toss darts at a fintech board while blindfolded.” 🎯

Blockchain, AI, fintech-ARK’s bets are as broad as a Dickens novel, but with fewer orphaned protagonists. 📚

BitMine shares and crypto market trend

BMNR closed at $46.03 (-7.85%), then dipped further after-hours to $45.01. Yet year-to-date, it’s still up 490%-a feat achieved by ignoring the fundamental law of gravity. 🚀

For the quarter ending May, BitMine reported $2.05M revenue (67.5% YoY growth) and a 43% net profit margin surge. Tom Lee, crypto’s answer to Michael Saylor, has turned BitMine into an ETH vault that’d make Scrooge McDuck jealous. 🦆

ARK’s persistence in buying BMNR during market dips is either genius or a Shakespearean flaw waiting to unfold. Either way, the theater of crypto never disappoints. 🎭

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2025-08-29 08:21