ARK Invest, led by Cathie Wood, has made a major equity investment in BitMine Immersion Technologies Inc. (AMEX:BMNR), acquiring nearly 4.8 million shares valued at $182 million across multiple ARK funds.
BitMine confirmed that the net proceeds of $177 million from this transaction will be used exclusively to buy Ethereum (ETH), as the firm pursues its goal of acquiring 5% of the circulating ETH supply.
Thomas “Tom” Lee, Chairman of BitMine’s Board of Directors and Head of Research at Fundstrat, lauded Cathie Wood’s ARK Invest for taking a substantial stake in BitMine.
He highlighted her reputation as an…
