Bitmine to Use $177M for Massive ETH Purchase
Bitmine will invest $177M from ARK Invest's deal directly into Ethereum for its treasury.
- Bitmine to reinvest all proceeds into Ethereum
- ARK Invest acquires $182M in Bitmine shares
- Move highlights growing institutional ETH interest
Crypto firm Bitmine has announced a bold strategy: it will allocate 100% of its $177 million net proceeds from ARK Invest’s $182 million share acquisition to purchase Ethereum ($ETH). The move showcases Bitmine’s growing confidence in Ethereum as a long-term treasury asset.
According to the announcement, this purchase aims to strengthen Bitmine’s on-chain reserves and hedge against traditional market volatility. By allocating all proceeds directly into ETH, Bitmine is signaling its belief in Ethereum’s value and potential within the broader Web3 economy.
ARK Invest’s Strategic Bet
The backing comes from ARK Invest, the influential investment firm led by Cathie Wood. ARK acquired $182 million worth of Bitmine shares, a move seen by many analysts as a strong endorsement of Bitmine’s strategy and the future of crypto assets.
After deducting expenses, Bitmine retains $177 million — and instead of diversifying across various assets, it’s going all in on Ethereum. This decision reflects a trend among institutional players who now view ETH as more than just a digital currency — it’s also a productive asset with staking yields and smart contract utility.
Ethereum’s Role as a Treasury Asset
Bitmine joins a growing list of firms accumulating ETH as a part of their treasury strategy, similar to how companies like MicroStrategy accumulated Bitcoin. The move not only diversifies Bitmine’s treasury holdings but also aligns it with Ethereum’s expanding role in the financial ecosystem — from DeFi to NFTs and beyond.
This action may trigger ripple effects, encouraging other crypto-native and traditional companies to consider ETH as a viable treasury reserve.
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