Cathie Wood’s ARK Invest Doubles Down: $16M BitMine Stock Purchase Signals Ethereum Bull Run

Cathie Wood's latest power move screams confidence in crypto's infrastructure future.

Massive Institutional Bet

ARK Invest just dropped another $16 million into BitMine stock—because apparently traditional finance isn't volatile enough for their taste. The move signals deeper conviction in Ethereum's ecosystem, particularly mining infrastructure poised to capitalize on the next bull cycle.

Strategic Positioning

This isn't casual pocket change—it's a calculated play on blockchain's industrial expansion. While Wall Street analysts debate P/E ratios, crypto natives understand infrastructure plays yield exponential returns during network adoption phases.

Market Implications

Watch for copycat institutional moves as traditional finance finally grasps that digital asset infrastructure is the new railroad boom. Though let's be real—most hedge funds will FOMO in at the top after retail has already priced in the gains.

ARK Expands Its Holdings

According to ARK’s trading disclosures on August 27, the firm bought 339,113 BitMine shares spread across three ETFs.

The ARK Innovation ETF acquired 227,569 shares valued at a little over $10 million, while the Next Generation Internet ETF added 70,991 shares worth $3.27 million.

The Fintech Innovation ETF purchased another 40,553 shares for $1.87 million. Despite this fresh round of buying, BitMine shares ended the day at $46 before sliding 7.80% in extended trading.

Cathie Wood and Ark Invest bought 339,113 shares of Tom Lee’s $BMNR today pic.twitter.com/G9SQY02rDg

— Tom Lee Tracker (@TomLeeTracker) August 28, 2025

Ethereum Strategy Draws Institutional Attention

BitMine’s pivot from Bitcoin mining to an Ethereum-focused treasury earlier this summer has transformed the firm into a major corporate player in crypto.

Its balance sheet now holds 1,714,000 ETH, worth about $8.20 billion, alongside 192 bitcoin and $562 million in cash.

That makes BitMine the world’s largest corporate holder of Ethereum. Billionaire investor Peter Thiel has also taken a 9% stake, adding more weight to the firm’s rapid rise.

According to latest data, the company’s strategy has fueled sharp price movements in its stock. After surging more than 3,000% to a record high of $135 in early July, shares remain up more than 400% year-to-date despite recent pullbacks.

Reports have disclosed that BitMine dramatically expanded its fundraising plans. On August 12, the company filed to boost its at-the-market equity offering from $2 billion to $24.5 billion, a MOVE led by Cantor Fitzgerald and ThinkEquity.

Observers say the new funds will give BitMine more firepower to build its ethereum position. Analysts projected strong gains for Ethereum, predicting $5,500 in the near term and as high as $12,000 by year-end.

If those targets materialize and BitMine pushes toward its 5% supply goal, the company could one day rival Michael Saylor’s Strategy in scale.

Social media reaction has been quick to frame BitMine as Ethereum’s version of Strategy — a corporate vehicle for institutional exposure to the asset.

ARK’s growing position, surpassing $200 million this summer, only strengthens that concept. Yet the risks are just as visible.

BitMine’s share price swings highlight how concentrated bets can move violently, even with billions of dollars on the balance sheet.

Featured image from Meta, chart from TradingView