Shares of BitMine Immersion ($BMNR), a firm associated with Tom Lee, experienced a sharp decline of over 15% in after-hours trading on July 28, 2025, with reported drops ranging from 15% to more than 18%. Despite the sell-off, Cathie Wood's ARK Invest made a substantial purchase of 572,853 shares of $BMNR on the same day, amounting to approximately $23 million. Alongside $BMNR, ARK Invest also increased holdings in companies including Alphabet ($GOOG), Advanced Micro Devices ($AMD), NVIDIA ($NVDA), and ATAI Life Sciences ($ATAI). Concurrently, ARK reduced its positions in several stocks such as Joby Aviation ($JOBY), Palantir Technologies ($PLTR), Robinhood Markets ($HOOD), Rocket Lab ($RKLB), and Coinbase ($COIN). These moves reflect ARK Invest's strategic reallocation amid market volatility affecting $BMNR and other technology and innovation-focused stocks.