Key Takeaways
- ARK bought $5.83M in BitMine and $2.91M in Bullish during a sharp market dip.
- Purchases are part of a broader crypto accumulation strategy, including $46M in Circle shares.
- BitMine undergoes leadership overhaul as its ETH treasury surpasses $11B.
ARK Invest Resumes Crypto Buying Spree With Major BitMine and Bullish Additions
ARK Invest has stepped back into aggressive accumulation mode, expanding its exposure to crypto-linked equities even as markets face sharp sell-offs. The move underscores Cathie Wood’s conviction that current volatility presents a strategic buying opportunity for long-term growth.
ARK Scoops Up BitMine and Bullish During Market Weakness
According to Friday’s trade disclosures, ARK Invest purchased 169,407 BitMine Immersion Technologies shares, spread across ARKF, ARKW, and ARKK. The total buy — worth roughly $5.83 million — came as BitMine fell nearly 6% to $34.40 before a mild after-hours recovery.
ARK also accumulated 75,515 Bullish shares across the same ETFs, spending approximately $2.91 million. Bullish closed the day down 6.19% at $38.48, signaling ARK’s willingness to buy into weakness where it anticipates upside potential.
Also Read: Why Cathie Wood Just Bet $31M on Crypto Stocks During a Market Dip
A Broader Crypto Accumulation Strategy
Friday’s buys follow ARK’s larger $46 million purchase of 542,269 Circle (CRCL) shares earlier in the week, marking its first CRCL acquisition since June. The renewed interest aligns with ARK’s strategy of expanding crypto-related holdings during downturns, positioning for long-term recovery across the digital asset ecosystem.
The firm has also been steadily rebuilding its BitMine position. Just a day before the latest purchase, ARK added 242,347 BitMine shares for approximately $8.9 million as prices dipped below $37.
BitMine’s Leadership Shake-Up and $11B Ether Treasury
BitMine’s stock volatility comes amid major corporate shifts. The company announced the appointment of Chi Tsang as its new CEO, replacing Jonathan Bates, alongside three independent board additions.
Despite market pressures, BitMine now holds over 3.5 million ETH valued at more than $11 billion, cementing its position as the largest Ether-holding public company. Its strategic transition from miner to institutional ETH accumulator is drawing comparisons to MicroStrategy’s Bitcoin playbook.
Conclusion
ARK Invest’s sustained crypto buying spree — spanning BitMine, Bullish, and Circle — signals firm conviction in the sector’s long-term trajectory despite near-term turbulence. For investors, ARK’s moves may serve as a barometer of institutional appetite returning to digital asset equities.
