Ethereum News Today: Ark Invest Buys $20M BitMine Shares Sells $15M Block Inc Stake for Crypto Infrastructure Bet

Cathie Wood’s Ark Invest has executed a significant portfolio adjustment, purchasing $20 million in shares of BitMine Immersion Technologies Inc. (OTC: BMNR) while divesting $15 million in Block Inc. (SQ), alongside reductions in holdings of Robinhood Markets and Coinbase Global [1]. The trades, disclosed in late June 2025, were spread across three of Ark’s exchange-traded funds: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). ARKK acquired 401,318 BitMine shares, ARKW added 128,048 shares, and ARKF purchased 43,487 shares [1]. Simultaneously, the firm sold 186,417 Block Inc. shares, valued at $15 million, with further reductions in Robinhood and Coinbase positions totaling $19.6 million [1].

The strategic shift underscores Ark’s growing focus on crypto infrastructure. BitMine, a miner utilizing immersion cooling technology to optimize energy efficiency, has expanded its Ethereum staking operations. Ark’s prior $182 million investment in BitMine last week was followed by this fresh infusion, reflecting confidence in the firm’s Ethereum treasury strategy, which involves staking Ether to generate yield [1]. BitMine recently disclosed that its ETH holdings exceeded $2 billion, a development that appears to have reinforced Ark’s conviction [1]. Analysts note the transaction aligns with Ark’s broader thesis on institutional adoption of blockchain-based assets, particularly as traditional financial markets grapple with low-interest environments [1].

The ETF breakdown highlights Ark’s layered approach to capital allocation. ARK’s purchase of BitMine shares was concentrated in funds focused on innovation and fintech, while the divestment of Block Inc. and other fintech assets signals a pivot away from consumer-facing growth stocks. The move follows a broader reallocation of fintech holdings, as Ark seeks to prioritize sectors with longer-term technological disruption potential [2]. Benzinga characterized the BitMine purchase as a “bargain hunt,” citing the miner’s operational efficiency and scalability in a sector facing regulatory and energy cost headwinds [4].

Market reactions to the trades were mixed. BitMine’s stock closed at $35.11 on Monday, down 11.78%, and fell further by 13.1% in after-hours trading [1]. Coinbase shares ended at $379.49, a 3.11% decline, while Robinhood rose 1.83% to $106.77 [1]. These fluctuations reflect ongoing volatility in crypto-related equities, though Ark’s large-scale transactions suggest a long-term commitment to Ethereum’s ecosystem. The firm’s emphasis on staking infrastructure aligns with a broader industry trend, as institutional investors increasingly seek alternative yield sources in an era of subdued returns [5].

The timing of the transactions coincides with Ark’s disclosed interest in Solana-related ventures and staking partnerships, according to separate filings [6]. While the firm has not outlined a formal roadmap for its crypto investments, its consistent focus on Ethereum and infrastructure providers indicates a sustained bet on the maturation of digital asset ecosystems. By amplifying exposure to BitMine, Ark positions itself to benefit from both the miner’s staking revenue and the broader integration of blockchain solutions across enterprises [3].

References

[1] https://www.theblock.co/post/364548/ark-invest-loads-up-20-million-worth-bitmine

[2] https://coinpedia.org/crypto-live-news/ark-invest-buys-20-million-in-bitmine-shares-sells-15-million-in-block-inc/

[3] https://www.stocktitan.net/sec-filings/BMNR/s-3asr-bit-mine-immersion-technologies-inc-sec-filing-1781baf6f54f.html

[4] https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/07/46678150/cathie-wood-goes-on-a-20m-bitmine-immersion-bargain-hunt-as-ark-trims-robinhood-and-palantir-stakes

[5] https://www.investing.com/news/company-news/cathie-woods-ark-buys-amd-and-alphabet-stock-sells-coinbase-and-robinhood-93CH-4156293

[6] https://cryptoadventure.com/arks-cathie-wood-breaks-down-why-ethereum-unstaking-just-exploded-in-volume/