ARK Invest Boosts BitMine Stake as Ether Treasury Tops 2 Million ETH

ARK Invest has expanded its exposure to BitMine Immersion Technologies with a $4.4 million stock purchase, coinciding with BitMine’s milestone of surpassing 2 million Ether in treasury holdings.

The firm added 101,950 BitMine shares across three of its funds — Ark Innovation ETF, Ark Next Generation Internet ETF, and ARK Fintech Innovation ETF. Together, these funds now control 6.7 million shares valued at $284 million, representing one of ARK’s largest concentrated bets in the crypto treasury sector.

BitMine, chaired by Tom Lee, has rapidly grown into the world’s largest corporate Ether holder. In just five months, the company has accumulated 2 million ETH, representing around 1.7% of the total supply and 42% of all corporate Ethereum reserves. At current prices, the holdings are worth approximately $8.9 billion.

The company’s target remains ambitious: acquiring up to 5% of Ethereum’s circulating supply. That would require nearly tripling its current treasury, suggesting further aggressive accumulation ahead.

The market responded favorably, with BitMine stock gaining 4.1% in after-hours trading to $44.10. Year-to-date, the shares have skyrocketed 460%, reflecting investor enthusiasm for the firm’s ETH-first strategy.

Meanwhile, Ethereum’s price performance has been muted this month, with the asset consolidating in a narrow range above $4,300. Analysts point to potential catalysts ahead, including expectations that the Federal Reserve could cut interest rates in September.

A shift in U.S. monetary policy would not only support risk assets broadly but could also strengthen the investment case for Ethereum and BitMine’s treasury-driven model.