BitMine Immersion Rises After ARK Invest Buys $182 Million in Ethereum Treasury Shares

Bitmine Immersion shares had risen somewhat in Tuesday trade, one day after Cathie Wood’s Ark Invest $ 182 million bought of the shares of the Ethereum Treasury Company, one of the last proof of the rising interest in ETH-oriented investments.

According to Yahoo Finance, Bitmine Immersion (BMNR) acted at around $ 40.77 per share, with more than 3% in the day. The company’s share price has risen 827% in the past month, since the Peter Thiel-Stunder company has been plowed into its Ethereum accumulation strategy.

In a statement, Bitmine chairman Tom Lee said that the company was “delighted” with the investment of Ark and called “an exponential opportunity”, while the company wants to achieve its goal to acquire and place 5% of all Ethereum.

“Cathie is a pioneer of exponential investing, who made early and profitable investments in Tesla, Bitcoin and AI,” said Lee, and noted that her involvement in the successful public offer of Stablecoin -Eemittent was of the Circle of Stablecoin last month.

Bitmine is one of a number of companies that have built up ETH treasure boxes. It has more than $ 1 billion in Ethereum after adding $ 500 million of the active last week. The company based in Las Vegas, based in Nevada, which had previously focused on Bitcoin Mining, start The Ethereum accumulation strategy on 30 June with a private placement of $ 250 million.

Bitmine said it would be expected to invest 100% of the net yield –$ 177 million – Van Ark’s purchase of 4,773,444 shares of BNMR Common Stock To buy more Ethereum.

Ark has added nearly three million shares of BMNR to his Ark Innovation ETF (Arkk)and the rest of his Ark Next Generation Internet ETF (ArkW) and Ark Fintech Innovation ETF (Arkf) funds. It released around 220,000 Coinbase shares and 110,000 Robinhood in its latest portfolio update.

Ethereum was recently traded at around $ 3,725, somewhat down of a seven -month high set on Monday, according to Crypto Markets Data Provider Coingecko. Nevertheless, the second largest cryptocurrency per market value has enriched no less than 45% in the past month. The rise of Ethereum Treasuries played an important role in the dramatic win of ETH after the digital active in March had fallen below $ 1,600.

On Tuesday Ethereum Treasury Firm Sharplink Gaming brought its total ETH interests to more than $ 1.3 billion after a weekend purchase, the company announced. Last week the company bought $ 48 million of the cryptocurrency on Monday and then $ 225 million on Tuesday. Sbet has 360,807 Ethereum in his treasury.

On Friday Bit Bit Digital (BTBT), which previously focused on Bitcoin Mining, announced The purchase of approximately 19,683 ETH. The company has around 120,306 Ethereum worth almost $ 70 million.