Ethereum News Today: Ark Invest Buys $47M in Coinbase BitMine Amid Market Downturn

Ark Invest, managed by CEO Cathie Wood, has executed a $47 million investment in Coinbase and BitMine Immersion Technologies during a recent market slump, reflecting its long-term confidence in the crypto and blockchain sectors [3]. The firm added $30 million in Coinbase shares and $17 million in BitMine stock through its core ETFs: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). The purchases took place on August 2, 2025, as both stocks faced sharp declines [3].

Coinbase shares fell 16.7% to close at $314.69 on the day of the investment, while BitMine dropped 8.55% to $31.68. The broader market was also under pressure, with U.S. equities declining amid weak labor market data [3]. This marked a strategic reversal for Ark Invest, which had previously sold nearly $7 million in Coinbase shares earlier in the week [3].

The move aligns with the firm’s "buy the dip" strategy, which it has employed in past market downturns. By acquiring shares when prices are low, Ark Invest aims to capitalize on potential future growth as market conditions stabilize. Coinbase, one of Ark’s long-standing investments, has seen its stock fall from a 52-week high of $444.64 to a low of $310.55 [3]. BitMine, which specializes in immersion cooling for Bitcoin mining, has also seen its stock decline, prompting Ark to distribute the investment across its ETFs [3].

BitMine has also made strategic shifts in its corporate treasury, holding 625,000 Ether (ETH) as part of its broader business strategy [3]. This development signals the company’s growing role in the Ethereum ecosystem and its technological advancements in energy-efficient mining solutions.

Ark Invest’s continued investment in the crypto sector, despite ongoing volatility, underscores its belief in the transformative potential of blockchain technology. The firm’s actions may also serve as a signal to other investors, potentially boosting market sentiment and liquidity in the space [1]. Analysts suggest that such moves could reinforce the long-term viability of crypto infrastructure firms [1].

Source:

[1] Cathie Wood's Ark Invest Buys $47M in Coinbase & ... (https://coincentral.com/cathie-woods-ark-invest-buys-47m-in-coinbase-bitmine-shares-amid-market-slump/)

[2] ARK Invest Buys $47M in Coinbase and BitMine Amid ... (https://www.ainvest.com/news/ethereum-news-today-ark-invest-buys-47m-coinbase-bitmine-market-dips-2508/)

[3] ARK Invest scoops up Coinbase, BitMine shares amid ... (https://cryptonews.net/news/finance/31365243/)