Cathie Wood recently added Bitmin’s submersion technology to its three Ark Invest ETFs.
Bitmin follows in the footsteps of strategy and other companies that have included cryptocurrencies into their balance sheets.
Bitmino’s main business is Bitcoin mining, but Wood believes it is a Digital Treasury company.
10 shares we like more than Bitmin’s submersion technology ›
Cathie Wood is one of the most monitored Volstryt investment managers. 2014 Wood was founded by Ark Investment Management, focusing on disruptive innovations, using investors in accordance with the transparent, social and media favor approach to the portfolio.
Long -time cryptocurrency, Wood recently started a position Bitmin dipping technology(Freshly taken: BMNA); Ark ETF on July 21 Purchased $ 4.4 million. Shares. The next day, Bitminu killed 2% larger, but it is a bucket drop compared to 435% of the shares, as June. Debuted in public markets. Now is the time to follow the wood and get involved in these stocks.
Bitmino Business is Bitcoin mining. The company says its submerged mining technology is more economical and greener than the usual Bitcoin mining system. Bitmin also offers Mining-AS-Service and Bitcoin Treasury consultations.
Due to its fiscal 2024, after the end of 2024, On August 31, Bitmin reported $ 3.3 million. USD income, ie 413% more than a year. The lion’s share of his income came from mining. Although the company reported $ 3.29 million.
June 5th Bitmin Stock started selling the New York Stock Exchange with Little Fanfare and closed $ 7.75 per share. Shortly afterwards, the company started buying Bitcoin by following the footsteps Micro (Business as a strategy) and other companies that have included cryptocurrency in their balance sheets.
Image Source: Getty Images.
This is where things are going interesting. June 30 Ethereum as his main financial reserve. The company announced $ 250 million. USD private distribution of ordinary shares that it is bankrupt the first Ethereum purchase, and named Tom Lee, the chairman of the board. The share price increased by 696%on one day of trading.
Since then, the campaigns have been on roller coasters, and in early July, $ 161 for the campaign, before starting to settle in a stricter trade range. July 24 The Bitmino Stock closing penis traded for about $ 42 per share. Meanwhile, Ethereum has increased by almost 139%in the last three months.
From July 17 Bitmino Immersion Technologies organized 300,657 Ethereum tokens-60,000 of which were more than $ 1 billion. The company’s public purpose is to purchase 5% of the total Ethereum supply.
Bitmin said she took advantage of Ethereum because of her usefulness as intellectual contracts, Stablecoin payments and decentralized financial operations. First of all, Stablecoins sees the usual application of consumers, merchants and financial service providers, and Lee called them a “cryptocurrency conversation”.
“With $ 1 billion ETH, a signal of our belief in Ethereum’s long-term value is clear,” Jonathan Bates, CEO of Bitmino, said in a press release.
Bitmin said it plans to use net income from Wood’s investment to buy more Ethereum.
Wood is not the only high -level investor to start a Bitmin position. Earlier this month, the Tech Mogul Peter Thiel revealed 9.1% of Bitmino shares through its venture capital funds.
While Bitmin’s main business is Bitcoin mining, Ethereum has completely changed its value offer to investors. Wood’s Flagman you won’t find any pure game Bitcoin mining hills Ark Innovation ETF; This is because Wood believes that Bitmin is a “digital property treasury” company.
“These companies could be a new generation of assets managers in chain capital markets,” said Wood X. in the post.
Bitmin reported $ 1.2 million. USD revenue for its first 2025 fiscal quarter, which ended in 2024. November 30 This is a 135% increase per year. The company reported net losses assigned to $ 3.9 million. USD shareholders compared to $ 930,000 a year. According to the company, the increase was mainly due to accounting adjustment related to the desired shares.
Price and sales (P/S) ratio can be useful in metrics comparing non -profitable companies. When the P/S ratio is 16 at 12 months, Bitmino sells a premium compared to other cryptocurrency mining.
BMNA PS ratio data according to ycharts
Although the highest Bitmin line is growing in an impressive clip, it is clear to me that investors are accumulating due to the huge Ethereum stock, not the basic bases. After all, it is a loss -making company selling ordinary shares to buy Ethereum.
With a $ 1 billion in Ethereum’s balance sheet, I would believe that Bitmin’s fates will be closely linked to price “Ethereum” – more than Bitmin. And that raises the question: why not just buy Ethereum directly?
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Josh cable has no position in any of the above stocks. Motley fool is a position and recommends Bitcoin and Ethereum. The Motley fool has a disclosure policy.
Cathie Wood has just loaded these high -flying cryptocurrencies. Should you follow her example? initially released by The Motley Fool
