Cathie Wood’s Ark Investment Management has made a substantial investment in BitMine Immersion, a cryptocurrency treasury company led by Fundstrat’s Tom Lee and backed by Peter Thiel. On July 21, Ark Invest purchased approximately 4.77 million shares of BitMine Immersion, valued at around $182 million, across three of its funds including ARKK, ARKF, and ARKW. This move involved swapping stakes in Coinbase and Robinhood for a major $175 million Ethereum-focused position in BitMine. The shares were acquired at an average price of about $38 per share, reflecting Ark Invest’s strategic shift towards Ethereum-centric assets through BitMine Immersion.