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ARK Invest spent 182 million USD buying BitMine shares.
ARK Invest led by Cathie Wood has purchased 4,773,444 common shares of BitMine Immersion Technologies (BMNR) worth 182 million USD through a block trade under the company's ATM program. BitMine plans to use the entire 177 million USD after costs to purchase Ethereum (ETH).
The Chairman of the Board of BitMine, Mr. Tom Lee (Fundstrat), stated: "We are very pleased that Cathie Wood's ARK Invest has become a major shareholder, especially as she sees the tremendous growth potential from the goal of holding 5% of the ETH supply."
BitMine is a company specializing in the Bitcoin and Ethereum network, operating in the field of mining, providing consulting services and developing financial products related to hashrate, with a base located in areas with low electricity costs such as Trinidad and Texas.