BitMine Immersion Technologies announced that Cathie Wood's ARK Invest acquired 4,773,444 shares of its common stock, totaling $182 million. This investment was made across multiple ARK Invest funds.
The company expects to invest 100% of the net proceeds from this transaction, approximately $177 million, to acquire additional Ethereum (ETH). This further supports BitMine's aggressive Ethereum treasury strategy.
This substantial acquisition by ARK Invest, a prominent institutional investor focused on disruptive innovation, provides significant market validation for BitMine's strategic pivot and its goal of accumulating a large ETH treasury.
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