Ark Invest Bolsters Crypto Bet with $9M BitMine Purchase as Cathie Wood Goes All-In
Cathie Wood's Ark Invest just dropped another $9 million into BitMine—because when your crypto thesis gets hammered, why not double down?
The move signals relentless conviction in blockchain infrastructure plays, even as traditional finance snickers about 'digital tulips.'
Wood's team keeps stacking crypto exposure like a degenerate gambler at a high-stakes table. Will this be the bet that finally pays off?
Ethereum Bulls Return: Santiment Flags Shift Amid Market Panic
Other crypto-related equities suffered alongside BMNR on Thursday, including Robinhood (-10.8%), Coinbase (-7.5%), and Strategy (-7%). Bitcoin slipped 2.3%, Ethereum fell 3.4%, and the GMCI 30 index – tracking top cryptocurrencies – dropped by a similar margin.
BitMine’s Massive Ethereum Ambition
Led by Tom Lee and backed by institutional heavyweights such as Ark Invest, DCG, Founders Fund, Galaxy Digital, Kraken, and Pantera, BitMine has become a powerhouse in crypto treasuries. The company recently added 82,353 ETH, bringing its total to 3.4 million ETH worth $11.2 billion, as of Nov. 2.
That puts BitMine well ahead of rivals like SharpLink (859,400 ETH) and The Ether Machine (496,710 ETH), and second only to Michael Saylor’s Strategy, which holds 641,205 BTC — more than 3% of Bitcoin’s total supply. BitMine’s ultimate goal: to control 5% of all Ethereum in circulation, equivalent to around 6 million ETH.
