ARK Invest Buys $182M in BitMine Equity to Back 300K ETH Crypto Bet

ARK Invest just went all in on Ethereum. On July 22, ARK bought 4.77 million BitMine shares in a block trade for $182 million...

Written by: Arslan Butt • Wednesday, July 23, 2025 • 2 min read

• Last updated: Wednesday, July 23, 2025

Quick overview

ARK Invest has made a significant investment in Ethereum by purchasing 4.77 million BitMine shares for $182 million, with proceeds dedicated to acquiring Ethereum.
BitMine has rapidly increased its Ethereum holdings, now controlling approximately 300,000 ETH valued at $1.1 billion, making it a major player in the crypto space.
The company aims to accumulate 5% of Ethereum's total supply, or 6 million ETH, as part of its long-term strategy focused on eco-friendly mining and staking.
BitMine's strategy reflects a new approach to corporate treasury management, positioning Ethereum as a foundational asset in the evolving Web3 landscape.

ARK Invest just went all in on Ethereum. On July 22, ARK bought 4.77 million BitMine shares in a block trade for $182 million across several ARK funds. The transaction was part of BitMine’s at-the-market equity program and generated $177 million in net proceeds which will be used entirely for Ethereum purchases.

Cathie Wood is no stranger to early tech bets, having backed Tesla and blockchain infrastructure projects. This is another big bet on crypto native companies and aligns with her vision of Ethereum as the next financial era.

BitMine Chairman Tom Lee of Fundstrat says this is a strategic validation, “This is an exponential opportunity” referencing Ethereum as a foundational asset in Web3.

BitMine Builds a Massive ETH Treasury

BitMine’s ETH accumulation has accelerated big time in recent months. Following a $250 million private round in June led by MOZAYYX with participation from Pantera, Galaxy Digital, Kraken and Founders Fund, BitMine fully deployed the capital to buy and stake Ethereum.

As of July 23, BitMine controls around 300,000 ETH worth $1.1 billion, second only to one other company globally according to Strategic ETH Reserve data. It now trails only one other company and surpasses the Ethereum Foundation in holdings.

ETH Holdings Snapshot:

BitMine: 300,000 ETH
Public Companies (58 total): 1.87M ETH
Total Value: ~$6.9 billion

This is a new paradigm in corporate treasury management with BitMine and SharpLink Gaming leading the way for ETH focused strategies.

BitMine Aims for 5% of ETH Supply

Looking forward, BitMine plans to accumulate and stake 5% of Ethereum’s total supply or 6 million ETH. While it continues to operate eco-friendly mining facilities in Texas and Trinidad, Ethereum has become the core of its long term strategy.

BitMine is convinced in part by forecasts like US Treasury Secretary Scott Bessent’s recent prediction: the stablecoin market could grow to $2 trillion by 2028 making Ethereum the infrastructure layer.BitMine will use capital markets, staking and operational cash to grow its ETH over time.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.