BitMine price drops nearly 8%, Ark's Cathie Wood increases investment by 15.6 million USD.

ARK Invest, led by “Wood Sister” Cathie Wood, on August 27 Eastern Time, took the opportunity to purchase 330,000 shares of BMNR, as BitMine’s stock price dropped nearly 8% in a single day. The estimated total amount reached 15.6 million USD.

BitMine announced on August 12 that it is expanding its financing scale to 24.5 billion.

BitMine submitted the latest supplemental prospectus (Form 424B5) to the SEC at 8/12 Eastern Time, planning to expand the scale of its “At-The-Market” ATM common stock financing program from the original $4.5 billion to $24.5 billion.

BitMine stated that the funds will be used to continue increasing their investment in Ethereum (ETH).

(BitMine expands fundraising scale! Launching a $20 billion ATM financing plan, ETH attacks historical highs )

Holding 1.71 million ETH, with total net assets reaching 8.8 billion USD.

BitMine announced its latest cryptocurrency holdings earlier this week (8/24). Data shows that the cryptocurrency assets held by BitMine include:

1,713,899 ETH

192 BTC

562 million USD in unallocated cash

The fully diluted net outstanding shares are 221,515,180, with total net assets of approximately 8.82 billion dollars.

According to CoinGecko data, BitMine remains the global reserve enterprise with the largest holding of ETH. Taking advantage of the sharp drop in BMNR stock price, Ark is increasing its investment.

As of Eastern Time on 8/27, BMNR’s stock price has dropped by 7.85%, closing at $46.03, with a total decline of 8.05% over the past five days. Notably, BMNR’s stock price once surged from this year’s low of $3.92 to as high as $161, representing significant volatility.

As BMNR’s stock price drops by 7.85%, ARK also seizes the opportunity to significantly increase its investment:

ARK Innovation ETF (ARKK): Buy 227,569 shares

ARK Next Generation Internet ETF (ARKW): Buy 70,991 shares

ARK Fintech Innovation ETF (ARKF): Buy 40,553 shares

It is estimated to have invested $15.6 million to enter the market and buy up.

( Ark Cathie Wood’s latest top ten holdings are out! Tesla holds the first place, followed by Roku and Coinbase ).

This article states that BitMine price drops nearly 8%, and Ark’s Cathie Wood increased her investment by $15.6 million. It first appeared in Chain News ABMedia.