ARK Invest Acquires $182 Million Stake in Bitmine Immersion Technologies, Boosting Ethereum Acquisition Strategy

Reuters
07-22
ARK Invest Acquires $182 Million Stake in Bitmine Immersion Technologies, Boosting Ethereum Acquisition <a href="https://laohu8.com/S/MSTR">Strategy</a>

Bitmine Immersion Technologies Inc. has announced a significant expansion following ARK Invest's acquisition of $182 million in BitMine equity. The investment, led by Cathie Wood, represents 4,773,444 common shares, with the net proceeds of $177 million earmarked for acquiring Ethereum $(ETH)$. This strategic move aligns with BitMine's goal to capture 5% of the ETH market, supported by notable investors including MOZAYYX, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital. The company's chairman, Thomas Lee, highlighted the exponential opportunities ahead, drawing parallels to Wood's successful ventures in Tesla, Bitcoin, and AI.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Bitmine Immersion Technologies Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: NY34828) on July 22, 2025, and is solely responsible for the information contained therein.

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