ARK Invest Makes a Play: BitMine Purchase & Stock Moves
Noted investor Cathie Wood's ARK Investment Management made some interesting crypto-related moves recently. Causing some waves, ARK bought into BitMine, a crypto mining data centre operator. The move comes as ARK sees potential in the energy-efficient operations of BitMine, an interesting development as mining continues to gain regulatory scrutiny.
But that's not all, they also sold off stocks of Coinbase and Robinhood, two popular crypto platforms. Instead, they appear to have shifted focus to Nvidia, a chipmaker with growing presence in the crypto world. This shift could indicate ARK's strategy to target the underlying tech driving crypto, rather than the platforms themselves.
It's an intriguing development and one that could signal a re-alignment of investor focus. With Wood's reputation as a tech and innovation hunter, this move may indicate a new direction for crypto-adjacent investing.
#crypto #ArkInvest #Bitmine #NVIDIA