ARK Invest Bets Big on BitMine’s Quest for 5% of Ethereum’s Supply

ARK Invest has increased its stake in BitMine Immersion Technologies (BMNR) to $284 million across its exchange-traded funds, reflecting renewed confidence in the company’s Ethereum (ETH) treasury strategy and broader market positioning. This move comes as BitMine continues to solidify its status as the largest ETH treasury firm in the world and the second-largest crypto treasury overall, with total holdings of $9.21 billion in crypto and cash as of September 7, 2025 [1].

BitMine's crypto portfolio includes 2,069,443 ETH, valued at approximately $8.9 billion, and 192 BTC, alongside $266 million in unencumbered cash. The firm’s ETH holdings surpass those of its closest competitor, SharpLink Gaming, which holds $3.6 billion in Ethereum. BitMine has positioned itself as a key player in the evolving blockchain landscape, emphasizing its long-term goal of accumulating 5% of the total ETH supply [2].

This strategic buildup of Ethereum is supported by a robust institutional investor base, including ARK Invest’s Cathie Wood, Founders Fund, Pantera, Kraken, and Galaxy Digital. ARK’s recent move to boost its stake in BitMine underscores the potential for Ethereum as a macroeconomic investment opportunity over the next decade, particularly with the convergence of Wall Street’s migration to blockchain and the rise of AI-driven token economies [1].

In addition to its growing ETH treasury, BitMine has launched its “Moonshot” investment strategy, allocating a portion of its balance to initiatives that bolster the Ethereum ecosystem. The firm’s first move under this strategy was a $20 million investment in Eightco Holdings (OCTO), an e-commerce company adopting Worldcoin (WLD) as its primary treasury asset. This investment is part of a $270 million private investment in public equity (PIPE) funding round, signaling confidence in the future of blockchain-based digital identities [1].

The investment led to a significant market reaction, with Eightco Holdings’ stock surging over 1,000% in pre-market trading on the announcement. This move not only diversifies BitMine’s portfolio but also aligns with its vision of supporting innovative projects that strengthen Ethereum’s infrastructure and adoption [3].

BitMine’s stock has also seen increased trading activity, with an average daily dollar volume of $1.7 billion, placing it among the top 30 most actively traded stocks in the U.S. The company’s strategic positioning as both a mining operation and a treasury-focused investment firm has attracted attention from both retail and institutional investors, further amplifying its influence in the crypto space [1].

As the regulatory landscape for digital assets continues to evolve, BitMine’s emphasis on Ethereum aligns with broader industry expectations that the platform will remain central to future blockchain innovations. With the support of key investors and a clear strategy for expanding its ETH holdings, BitMine is well-positioned to benefit from the anticipated growth in both the crypto market and the blockchain-based financial ecosystem.

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[1] BitMine Immersion (BMNR) ETH Holdings Exceed 2.069 Million, Reigning as the 1 ETH Treasury in the World (https://www.prnewswire.com/news-releases/bitmine-immersion-bmnr-eth-holdings-exceed-2-069-million-reigning-as-the-1-eth-treasury-in-the-world-2nd-largest-crypto-treasury-globally-302548699.html)

[2] BitMine Widens Ethereum Treasury Lead as ETH Stash Hits 2M (https://finance.yahoo.com/news/bitmine-widens-ethereum-treasury-lead-144750614.html)

[3] BitMine Now Holds $9B in Crypto Treasury, Fuels 1,000% Surge in WLD-Linked Stock (https://www.coindesk.com/business/2025/09/08/bitmine-now-holds-usd9b-in-crypto-treasury-fuels-1-000-surge-in-wld-linked-stock)