Ark Invest Buys BitMine and Crypto Stocks Amid Ethereum Market Crash

Ark Invest has taken a contrarian stance as the broader crypto market faces intense pressure following one of its largest recent crashes. While many investors retreat, Cathie Wood’s investment firm has increased its exposure to crypto-linked equities, notably buying shares in BitMine, the largest Ethereum treasury company, despite its significant unrealized Ethereum losses.

According to recent trade filings, Ark Invest purchased approximately $6.25 million worth of BitMine (BMNR) shares. This move highlights Ark’s continued confidence in Ethereum-focused businesses, even as ETH remains one of the hardest-hit assets during the ongoing crypto market downturn. BitMine’s situation has drawn attention due to its massive Ethereum holdings and paper losses, yet Ark appears unfazed by the short-term volatility.

Beyond BitMine, Ark Invest has also expanded its portfolio of crypto-related stocks, spending a total of around $24 million across multiple companies. The firm bought roughly $9.4 million in Circle shares through two different ETFs and invested about $6 million in the Bullish crypto exchange. Additional purchases included $1.9 million in Block Inc. shares and $1.25 million in Coinbase stock, reinforcing Ark’s broad exposure to the digital asset ecosystem.

These investments coincide with BitMine’s aggressive accumulation of Ethereum. The company recently added 41,788 ETH to its treasury, further increasing its exposure at a time when Ethereum prices remain under pressure. Currently, BitMine reportedly holds around $9.2 billion worth of ETH, down sharply from an initial investment estimated at $15.7 billion. This decline translates to unrealized losses of approximately $6.6 billion, largely driven by Ethereum’s price slump.

Despite these losses, Ark Invest’s buying activity signals a long-term bullish outlook on crypto and blockchain-related companies. Cathie Wood has consistently framed market downturns as strategic buying opportunities rather than structural failures. Her broader thesis suggests that assets like Bitcoin and Ethereum still have significant upside over the long run, supported by macro trends and historical market cycles.

Wood recently pointed out that gold price movements have previously preceded major Bitcoin rallies, suggesting potential recovery ahead for the crypto market. While Ethereum remains down significantly over weekly and monthly timeframes, Ark Invest’s latest moves indicate confidence that current depressed prices may offer attractive entry points for long-term investors.