Cathie Wood's Ark Raises Wager on Ethereum-Hoarding Bitmine, Dumps Sports Betting Giant DraftKings

Benzinga

08/28

Ark Invest, led by Cathie Wood, executed significant trades on Wednesday, focusing on Bitmine Immersion Technologies Inc. (BMNR) and DraftKings Inc. (DKNG).

Ark Invest made substantial purchases of Bitmine Immersion across multiple ETFs, including Ark Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW). The firm acquired a total of 339,113 shares. The closing price for BMNR on Wednesday was $46.03, translating to a total investment of approximately $15.6 million.

Bitmine shares gained 3% in morning trading.

Bitmine’s involvement in the cryptocurrency market, particularly its influence on capital shifts from Bitcoin to Ethereum, has been a focal point for analysts recently. TheTom Lee-backed company’s stock has seen significant movement, partly due to the broader Ethereum rally and recent market optimism following comments from Federal Reserve Chair Jerome Powell.

The DraftKings Trade

In contrast, Ark Invest reduced its holdings in DraftKings across ARKF, ARKK, and ARKW, selling a total of 266,052 shares. With DKNG’s closing price at $47.80, the sale amounted to approximately $12.7 million.

DraftKings recently reported impressive second-quarter earnings, showcasing record revenue and net income. For the period, the company reported revenue of $1.51 billion — a rise of 37% year-over-year. The reported figure beat Street consensus estimate of $1.39 billion.

Other Key Trades

Sold 85,278 shares of Roku Inc (ROKU) from ARKK.
Bought 124,275 shares of CRISPR Therapeutics AG (CRSP) from ARKK.
Bought 185,200 shares of Intellia Therapeutics Inc (NTLA) from ARKK.

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(BMNR) and DraftKings Inc. (DKNG).</p><p>Ark Invest made substantial purchases of Bitmine Immersion across multiple ETFs, including Ark Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW). The firm acquired a total of 339,113 shares. The closing price for BMNR on Wednesday was $46.03, translating to a total investment of approximately $15.6 million.</p><p>Bitmine shares gained 3% in morning trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/4b3011b8da2a0957b12d65ce9982c1a5\" title=\"\" tg-width=\"865\" tg-height=\"831\"/></p><p style=\"text-align: start;\">Bitmine’s involvement in the cryptocurrency market, particularly its influence on capital shifts from Bitcoin to Ethereum, has been a focal point for analysts recently. TheTom Lee-backed company’s stock has seen significant movement, partly due to the broader Ethereum rally and recent market optimism following comments from Federal Reserve Chair Jerome Powell.</p><h2 id=\"id_3962134624\" style=\"text-align: start;\">The DraftKings Trade</h2><p style=\"text-align: start;\">In contrast, Ark Invest reduced its holdings in DraftKings across ARKF, ARKK, and ARKW, selling a total of 266,052 shares. With DKNG’s closing price at $47.80, the sale amounted to approximately $12.7 million. </p><p>DraftKings recently reported impressive second-quarter earnings, showcasing record revenue and net income. For the period, the company reported revenue of $1.51 billion — a rise of 37% year-over-year. The reported figure beat Street consensus estimate of $1.39 billion.</p><h2 id=\"id_3846580917\" style=\"text-align: start;\">Other Key Trades</h2><ul style=\"list-style-type: disc;\"><li><p>Sold 85,278 shares of Roku Inc (ROKU) from ARKK.</p></li><li><p>Bought 124,275 shares of CRISPR Therapeutics AG (CRSP) from ARKK.</p></li><li><p>Bought 185,200 shares of Intellia Therapeutics Inc (NTLA) from ARKK.</p></li></ul></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood's Ark Raises Wager on Ethereum-Hoarding Bitmine, Dumps Sports Betting Giant DraftKings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood's Ark Raises Wager on Ethereum-Hoarding Bitmine, Dumps Sports Betting Giant DraftKings\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2025-08-28 22:04</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<html><head></head><body><p>Ark Invest, led by Cathie Wood, executed significant trades on Wednesday, focusing on Bitmine Immersion Technologies Inc. (BMNR) and DraftKings Inc. (DKNG).</p><p>Ark Invest made substantial purchases of Bitmine Immersion across multiple ETFs, including Ark Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW). The firm acquired a total of 339,113 shares. The closing price for BMNR on Wednesday was $46.03, translating to a total investment of approximately $15.6 million.</p><p>Bitmine shares gained 3% in morning trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/4b3011b8da2a0957b12d65ce9982c1a5\" title=\"\" tg-width=\"865\" tg-height=\"831\"/></p><p style=\"text-align: start;\">Bitmine’s involvement in the cryptocurrency market, particularly its influence on capital shifts from Bitcoin to Ethereum, has been a focal point for analysts recently. TheTom Lee-backed company’s stock has seen significant movement, partly due to the broader Ethereum rally and recent market optimism following comments from Federal Reserve Chair Jerome Powell.</p><h2 id=\"id_3962134624\" style=\"text-align: start;\">The DraftKings Trade</h2><p style=\"text-align: start;\">In contrast, Ark Invest reduced its holdings in DraftKings across ARKF, ARKK, and ARKW, selling a total of 266,052 shares. With DKNG’s closing price at $47.80, the sale amounted to approximately $12.7 million. </p><p>DraftKings recently reported impressive second-quarter earnings, showcasing record revenue and net income. For the period, the company reported revenue of $1.51 billion — a rise of 37% year-over-year. The reported figure beat Street consensus estimate of $1.39 billion.</p><h2 id=\"id_3846580917\" style=\"text-align: start;\">Other Key Trades</h2><ul style=\"list-style-type: disc;\"><li><p>Sold 85,278 shares of Roku Inc (ROKU) from ARKK.</p></li><li><p>Bought 124,275 shares of CRISPR Therapeutics AG (CRSP) from ARKK.</p></li><li><p>Bought 185,200 shares of Intellia Therapeutics Inc (NTLA) from ARKK.</p></li></ul></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DKNG","symbol_name":"DraftKings Inc.","start_time":0,"source_url":"https://www.benzinga.com/news/25/08/47374560/cathie-woods-raises-wager-on-ethereum-hoarding-bitmine-ark-buys-stock-of-tom-lee-backed-company-dumps-shares-of-sports-betting-giant","article_id":"2562770130","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2562770130","pubTimestamp":1756389853,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"Ark Invest, led by Cathie Wood, executed significant trades on Wednesday, focusing on Bitmine Immersion Technologies and DraftKings.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"DKNG":"DraftKings Inc.","NTLA":"Intellia Therapeutics Inc","BMNR":"BitMine Immersion Technologies Inc.","ROKU":"Roku Inc","CRSP":"CRISPR Therapeutics AG"},"translate_title":"凯西·伍德(Cathie Wood)的方舟(Ark)加大了对以太币的押注——囤积比特矿(Bitmine)，抛弃了体育博彩巨头DraftKings","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BMNR":1.1,"CRSP":1.1,"DKNG":1.1,"NTLA":1.1,"ROKU":1.1},"content_text":"Ark Invest, led by Cathie Wood, executed significant trades on Wednesday, focusing on Bitmine Immersion Technologies Inc. (BMNR) and DraftKings Inc. (DKNG).Ark Invest made substantial purchases of Bitmine Immersion across multiple ETFs, including Ark Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW). The firm acquired a total of 339,113 shares. The closing price for BMNR on Wednesday was $46.03, translating to a total investment of approximately $15.6 million.Bitmine shares gained 3% in morning trading.Bitmine’s involvement in the cryptocurrency market, particularly its influence on capital shifts from Bitcoin to Ethereum, has been a focal point for analysts recently. TheTom Lee-backed company’s stock has seen significant movement, partly due to the broader Ethereum rally and recent market optimism following comments from Federal Reserve Chair Jerome Powell.The DraftKings TradeIn contrast, Ark Invest reduced its holdings in DraftKings across ARKF, ARKK, and ARKW, selling a total of 266,052 shares. With DKNG’s closing price at $47.80, the sale amounted to approximately $12.7 million. DraftKings recently reported impressive second-quarter earnings, showcasing record revenue and net income. For the period, the company reported revenue of $1.51 billion — a rise of 37% year-over-year. The reported figure beat Street consensus estimate of $1.39 billion.Other Key TradesSold 85,278 shares of Roku Inc (ROKU) from ARKK.Bought 124,275 shares of CRISPR Therapeutics AG (CRSP) from ARKK.Bought 185,200 shares of Intellia Therapeutics Inc (NTLA) from ARKK.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}