Ark Invest Buys $10.56M BitMine Amid Crypto Stock Decline

• Ark Invest purchased $10.56M BitMine across the following Monday’s $17M buy.
• Firm acquired $5.9M Coinbase and $8.85M Bullish shares during the recent session.
• Portfolio sold $10.9M Roku, $10.7M DraftKings, $10.6M Shopify across four funds.

Cathie Wood’s Ark Invest purchased additional BitMine Immersion Technologies shares valued at $10.56 million across three exchange-traded funds on December 17. The acquisition adds to Monday’s $17 million BitMine purchase, increasing the firm’s exposure in the Ethereum treasury company.

The Wednesday trades included 250,029 BitMine shares through ARKK, 72,617 shares via ARKW, and 37,586 shares in ARKF. BitMine operates as the world’s largest Ethereum treasury company. The stock was trading at $29.32 at press time, declining 6.59% in the last 24 hours.

Ark Adds Coinbase and Bullish Positions

Ark acquired $5.9 million in Coinbase Global shares and $8.85 million in Bullish stock during the same session. The Coinbase purchases totaled 24,198 shares split between ARKK (16,795), ARKW (4,879), and ARKF (2,524). Bullish acquisitions reached 209,886 shares distributed across ARKK (167,301), ARKW (28,125), and ARKF (14,460).

The firm bought 1,235,309 Roblox Corp pre-reincorporation shares valued at nearly $10.8 million. ARKK acquired 85,728 shares, ARKW purchased 24,896 shares, and ARKF added 12,685 shares. The gaming platform positions follow Ark’s continued interest in the technology and entertainment sectors.

Recursion Pharmaceuticals received investment across two funds totaling 2,078,907 shares. ARKK purchased 1,710,985 shares, accounting for 0.1076% of the ETF, while ARKG added 367,922 shares, representing 0.1425% of that fund. ARKG also acquired 35,111 Caris Life Sciences shares.

Ark Invest Offloads Multiple Shares

On the divestiture side, Ark sold 98,223 Roku shares worth $10.9 million. ARKK offloaded 68,183 shares, ARKW sold 18,796 shares, and ARKF divested 10,244 shares. DraftKings sales totaled 310,548 shares valued at $10.7 million distributed between ARKK (215,664), ARKW (62,692), and ARKF (32,392).

Shopify positions were reduced by 65,092 shares, generating $10.6 million across three funds. ARKK sold 45,325 shares, ARKW offloaded 13,155 shares, and ARKF divested 6,612 shares. Smaller sales included 6,767 Ibotta shares split between ARKW (4,152) and ARKF (2,615), plus 5,902 Iridium Communications shares from ARKK.

The trading activity shows Ark’s strategic repositioning toward cryptocurrency-related equities. At the same time, they reduced exposure to streaming entertainment and online gaming platforms during the current market environment.

Related: Bitcoin Shoots to $90,087 on Coinbase Hours Before Sliding Back to $86,580: Here’s Why