BitMine will invest $177 million from ARK Invest’s $182 million equity acquisition directly into its Ethereum treasury holdings.
ARK Invest acquired 4.77 million BitMine shares via a block trade, reinforcing its confidence in Ethereum's institutional growth potential.
BlackRock’s Ethereum ETF recorded $426.2 million in inflows on July 22, indicating growing institutional appetite for ETH accumulation.
BitMine has confirmed plans to invest $177 million from its recent share sale directly into Ethereum. This follows a $182 million equity acquisition by ARK Invest, signaling growing institutional interest in ETH.
https://twitter.com/Cointelegraph/status/1947824049897222158
ARK Invest Acquires Stake in BitMine
BitMine disclosed that ARK Invest purchased 4,773,444 shares of its common stock through a block trade under its existing ATM program. The transaction, totaling $182 million, will provide BitMine with $177 million in net proceeds.
The company stated, “BitMine expects to invest 100% of the net proceeds ($177 million) to acquire ETH.” This move places BitMine among a growing list of firms expanding their Ethereum holdings in response to institutional demand.
Commenting on the development, Thomas “Tom” Lee, Chairman of BitMine’s Board and Managing Partner at Fundstrat, said, “We are delighted that Cathie Wood's ARK Invest is taking a substantial stake in BitMine, as she sees the exponential opportunity ahead as we target reaching 5% of ETH.”
Lee added, “Cathie is a pioneer of exponential investing, having made early and profitable investments in Tesla, Bitcoin, and AI. Most recently, she was an anchor investor in Circle (ticker $CRCL), one of the most notable IPOs in the past 6 years.”
BitMine Sets Ambitious Ethereum Treasury Target
BitMine aims to acquire enough Ethereum to eventually reach 5% of the total ETH supply. While the timeline remains unspecified, the strategy demonstrates confidence in Ethereum’s long-term relevance as a corporate treasury asset.
According to the company, the $177 million investment will be fully allocated to ETH, reinforcing BitMine’s treasury-driven model. The move aligns with a growing trend among firms using digital assets as long-term reserves.
The joint venture with ARK Invest beefs up BitMine in the institutional crypto framework. The cooperation is associated with the shared conviction in the scalability, network power, and monetary worthiness of Ethereum.
Ethereum Institutional Demand Remains Elevated
Cointelegraph also reported that BlackRock’s spot Ethereum ETF purchased 115,295 ETH worth $426.2 million on July 22. This marked its third-largest inflow since launch, adding momentum to Ethereum’s growing role in institutional portfolios.
https://twitter.com/Cointelegraph/status/1947876894981984581
With BitMine and BlackRock both increasing exposure to Ethereum within days, confidence in ETH’s future remains firmly intact across investment circles.
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