Cathie Wood’s $11.3 Million Bet on Bitmine: Ark Invest Doubles Down on Crypto Mining Giant

Cathie Wood just placed another massive wager on the future of crypto mining—and it's got the entire digital asset sector buzzing.

The $11.3 Million Vote of Confidence

Ark Invest, through its flagship ETFs, scooped up over $11 million worth of Bitmine shares this week. This isn't a casual dip of the toe; it's a strategic, conviction-driven allocation that signals Wood's team sees significant runway ahead for the mining industry. While traditional finance pundits scratch their heads over energy consumption reports, Ark is buying the dip—literally funding the infrastructure that secures the blockchain.

Reading Between the Transaction Lines

This purchase does more than just add to an existing position. It sends a clear message about institutional sentiment during a period of market recalibration. When a fund manager known for spotting tech megatrends allocates eight figures to a single mining stock, it's worth noting. It suggests a belief that operational efficiency and scale will win out, regardless of short-term Bitcoin price volatility. The move essentially bets that the coming halving and evolving network dynamics will favor the best-capitalized players.

The Bigger Picture for Crypto Assets

Forget the daily price chatter. This is about capital allocation at the highest level. Investments like this provide the foundational equity that allows companies like Bitmine to upgrade hardware, secure cheaper energy contracts, and ultimately become more profitable per hash. A stronger, more efficient mining network is a more secure network—which benefits every Bitcoin holder and the entire ecosystem built on top of it. It's a virtuous cycle, funded by forward-thinking capital.

So, while some funds are busy rebalancing their treasury bonds, Ark is busy building the digital future. One cynical take? It's a refreshing change from the usual finance theater, where most 'innovation' is just repackaging old debt. Wood isn't just investing in a stock; she's underwriting a cornerstone of the new financial system.

TLDR

• ARK Invest purchased 360,232 shares of Bitmine Immersion Technologies worth $11.3 million on December 17, 2025
• ARK bought 209,886 shares of Bullish valued at $9 million, continuing a pattern of accumulation in the stock
• The fund sold 98,223 Roku shares for $10.9 million and 310,548 DraftKings shares for $10.7 million
• ARK also acquired $5.9 million in Coinbase shares while crypto stocks trade at discounted prices
• Bitmine stock dropped 6.59% to $29.32, down 24% over five days, while Coinbase fell 3.33% to $244.19

Cathie Wood’s ARK Invest made major purchases in cryptocurrency-related stocks on Wednesday, December 17, 2025. The investment firm bought 360,232 shares of Bitmine Immersion Technologies for approximately $11.3 million.

Bitmine Immersion Technologies, Inc., BMNR

The purchase represents ARK’s largest transaction of the day. It continues a pattern of investment in the crypto mining sector from earlier in the week.

ARK also acquired 209,886 shares of Bullish worth about $9 million. The purchase follows similar buys over recent days, showing strategic accumulation in the cryptocurrency exchange platform.

These purchases came as crypto equities extended their recent decline. Bitmine stock fell 6.59% on Wednesday to close at $29.32 per share.

The stock has dropped approximately 24% from its price five days earlier. Coinbase shares declined 3.33% to $244.19, down 8.78% over the past five trading days.

Bullish stock fell 1.89% to $42.15, representing a 6.41% decrease over five days. ARK’s buying activity appears to target these lower price points.

ARK Reduces Positions in Roku and DraftKings

On the selling side, ARK Invrest divested 98,223 shares of Roku for $10.9 million. The sale continues a trend of reducing the fund’s position in the streaming platform.

ARK also sold 310,548 shares of DraftKings for $10.7 million. Other sales included 65,302 shares of Shopify for $10.6 million.

The fund purchased 1,235,090 shares of Roblox with pre-reincorporation status. The transaction was valued at nearly $10.8 million.

Smaller trades included sales of 6,797 Ibotta shares and 5,902 Iridium Communications shares. ARK made purchases in Caris Life Sciences and Recursion Pharmaceuticals.

Crypto Stock Buying Spree Continues

ARK’s total investment in Bitmine this week reached over $27 million. The firm bought $17 million worth of Bitmine shares on Monday before Wednesday’s $10.56 million purchase.

The fund also acquired $5.9 million in Coinbase shares on Wednesday. These purchases across multiple ARK exchange-traded funds show coordinated buying activity.

Cathie Wood previously stated she expects a “real break” in inflation during 2026. This outlook appears to inform the fund’s current investment strategy.

Bitmine Chairman Tom Lee maintains a positive view on crypto’s near-term future. The company continues to purchase large amounts of ether on a weekly basis.

Lee cited regulatory and legislative changes in Washington as positive factors. He also pointed to stronger institutional engagement in the crypto market.

ARK’s Wednesday trades totaled over $10 million in crypto equity purchases. The buying occurred while these stocks traded at lower valuations than recent weeks.