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.
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