Kathy Wood joins the Crypto Heavyweight as he supports Bitmine’s Ethereum Play

ARK INVESTled by Cathy Wood, Bitmine Immerson Technologies Inc. (amex:BMNR),, Acquired approximately 4.8 million shares It is worth $182 million with multiple ark funds.

Bitmine has confirmed that the $177 million net revenue from the transaction will only be used for Ethereum (ETH) purchases as it pursues its goal of gaining 5% of its circular ETH supply.

Thomas “Tom” LeeBitmine’s board president and Fundstrat’s research director praised Cathie Wood’s Ark Invest for a significant stake in Bitmine.

Read again: Bitmin surge 14% after opening hours as Ethereum holds up to $1 billion immediately after $250 million pay raise

He highlighted her reputation as an early supporter of groundbreaking investments such as Tesla Inc. (Nasdaq:TSLA) and Bitcoin (Cryptography: BTC/USD). Wood recently pinned her support behind the circle (NYSE:CRCL) Famous IPO under ticker CRCL.

Other key names supporting Bitmine’s Ethereum strategy include the Founders Fund, Pantera Capital, Galaxy Digital, Kraken, Digital Currency Group, and The Pseudhous Mozayyx. Their collective support points to institutions’ interest in Ethereum as they prepare what the crypto market believes is the next bull cycle.

This movement has been reported in many people thatPeter Tiel Effect“It refers to a wave of capital entering Ethereum-related projects following strong signals from influential technology investors.

Bitmine’s decision to allocate the latest salary increases to Ethereum is a bold signal of confidence in the long-term trajectory of the assets. As competition among crypto-centric companies grows intensifying, strategic support from well-known investors like Wood could shape the future of digital asset accumulation.

Included in related ETFs Grayscale Ethereum Trust (OTCQX:that) and Bitise Crypto Industry Innovators ETF (NYSE:feed).

Price Action: BMNR shares are trading at $41.19, up 4.08% in its final check on Tuesday.

Read next:

Images via ShutterStock

Next: Transform your trading with Benzinga Edge’s unique market trading ideas and tools. Click now to access unique insights It can move you forward in today’s competitive market.

Get the latest inventory analysis from Benzinga?

This article Kathy Wood joins the Crypto Heavyweight as he supports Bitmine’s Ethereum Play It originally appeared Benzinga.com

©2025 Benzinga.com. Benzinga does not provide investment advice. Unauthorized reproduction is prohibited.