Cathie Wood’s Ark Invest Buys $9M Worth of BMNR Stock

Cathie Wood’s Ark Invest significantly grew its exposure to Ethereum-aligned assets by purchasing 240,507 shares of BitMine Immersion (BMNR) on Thursday, investing roughly $9 million. The acquisition was spread across three of Ark’s ETFs: ARK Innovation (ARKK), ARK Next Generation Internet (ARKW), and ARK Fintech Innovation (ARKF).

Cathie Wood and Ark Invest bought 240,507 shares of Bitmine $BMNR today

167,348 shares in $ARKK
48,361 shares in $ARKW
24,798 shares in $ARKF pic.twitter.com/9fFDC4GvxY

— Treasury Edge (@TreasuryEdge) November 7, 2025

The purchase occurred as BMNR stock fell 9.8% on the day, continuing a broader downturn in digital asset treasury stocks. Despite the dip, BitMine remains one of the most prominent players in the Ethereum ecosystem, having appreciated over 769% since launching its Ethereum treasury strategy in late June.

Renewed focus on Ethereum

This latest investment signals Ark’s growing confidence in Ethereum’s role in the digital asset landscape. BitMine, led by Tom Lee, has positioned itself as a key proponent of the Ethereum treasury model. The company currently holds nearly 3.4 million ETH, valued at around $11.2 billion as of November 2, making it the largest Ethereum treasury holder globally.

BitMine aims to accumulate 5% of Ethereum’s circulating supply, equivalent to approximately 6.04 million ETH. The firm added 82,353 ETH to its treasury last week alone.

Ark’s decision to ramp up its BMNR holdings follows Cathie Wood’s recent commentary about shifting dynamics in the crypto market. In a CNBC interview this week, Wood revised her bullish long-term Bitcoin forecast downward from $1.5 million to $1.2 million by 2030, citing the rapid rise of stablecoins as a primary factor.

“Stablecoins are scaling faster,” she said, adding that their dollar-peg utility is addressing financial needs in emerging markets in ways Bitcoin once was expected to.

BMNR’s volatile performance and portfolio allocation

BMNR shares closed at $37.37 on Thursday, marking a 42.5% decline over the past month. However, the stock remains significantly up year-to-date, having previously peaked at $161 after trading near $5 earlier in 2025.

Ark’s ETF allocations reflect its balanced diversification strategy, with BMNR now representing the thirteenth-largest holding in both ARKK and ARKW, and the fourteenth-largest in ARKF. The current weightings are around 2.3% to 2.4% in each fund, with total holdings valued at roughly $175 million across all three.