Cathy Wood is one of the most investment managers in Wall Street. Wood Ark Investment Management was established in 2014 with a focus on sabotage innovation, and she loved itself for investors through her transparent approach and social media in portfolio management.
A long encrypted bull, Wood recently started a site in Deta -photo techniques(Fresh samples were taken: BMNR). Ark’s Etfs bought 4.4 million shares on July 21. BitMine has increased by 2 % the next day, but this is a decrease in a bucket compared to an increase in the share by 435 % since it appeared on public markets in June. It’s time to continue wood and enter this stock.
BitMine’s basic work is bitcoin mining. The company claims that indulgent mining technology is more expensive and environmentally friendly than traditional bitcoin mining systems. BitMine also provides mining and bitcoin consulting.
In the fiscal year 2024, which ended on August 31, 2024, BitMine recorded $ 3.3 million in revenue, an increase of 413 % year on year. The lion’s share of its mining revenues came. While the company told a net loss of $ 3.29 million, the net money used in operating activities was a loss of $ 28,753 – a significant improvement in the loss of $ 809,715 in 2023.
On June 5, BitMine Stock began trading on the New York Stock Exchange with Little Fanfare, as it was closed at $ 7.75 per share. Soon after, the company started buying Bitcoin, in my footsteps Microstrategy (Doing business as a strategy) and other companies that added the cryptocurrency to its public budgets.
Photo source: Getty Images.
Here where things take an interesting turn. On June 30, a point photo said it was pivotal ethereum As a basic financial reserve. The company announced a special situation worth $ 250 million of shared shares for the first jump ethereum Buying, strategists were named in the market and Crypto Crypto Bull Tom Lee, Chairman of the Board of Directors. The share price increased 696 % on one trading day.
The stock has been on a trip from the Cler-Coastter since then, as it peaked at $ 161 per share in early July before settling in a more strict trading scope. As of the closing bell on July 24, the bite shares were trading of about $ 42 per share. Meanwhile, Ethereum has increased nearly 139 % over the past three months.
As of July 17, 300,657 bite indulge technologies occupied the ETAREUM-60,000 symbols, of which with options in funds-worth a billion dollars. The public goal in public is to get 5 % of participation in 5 % ethereum Endowment.
BitMine said it is an ETHEREUM because of its usefulness as a soft contract, Stablecoin payments, and decentralized financial transactions. Stablecoins is in particular, a major adoption by consumers, merchants and financial service providers, and Lee described them as “Chatgpt of Crypto”.
“Getting a billion dollars from ETH is a clear indication of our condemnation of the long -term ETHEREUM value,” BitMine CEO Jonathan Bings said in a press statement.
BitMine said it plans to use clear returns from Wood to buy more Ethereum.
Wood is not the only prominent investor to start a position in a point. Earlier this month, the technology pole, Peter Thil, unveiled a 9.1 % stake in a bite image through investment capital funds.
Although BitMine’s basic works are Bitcoin Mining, the storage of Ethereum has completely changed the value of the value of investors. You will not find any of the bitcoin mines to play in Wood Al -Raed Ark Innovation Etf. This is because Wood is a point of the “Ministry of Digital Treasury”.
“These companies can be asset managers from the next generation in the era of capital markets in the series,” Wood confirmed in a post on X.
BitMine reported $ 1.2 million for the first quarter of the fiscal year 2025, which ended on November 30, 2024. This is a 135 % increase on an annual basis. The company has informed a net loss attributed to the subscriber shareholders of $ 3.9 million, compared to $ 930,000 in the previous quarter. The increase was mainly due to the adjustment of accounting related to the favorite arrow, according to the company.
The percentage to the sale (P/S) can be a useful measure when comparing unbelievable corporate evaluations. With the P/S ratio of 16 on the basis of 18 months, the bittime image is circulated compared to other encryption mines.
Although BitMine’s upper line grows in an impressive clip, it is clear to me that investors accumulate because of its huge stock of ETHEREUM, not its basic basics. In the end, this is an unprecedented company that sells regular shares to purchase ETAREUM.
With a billion dollars in ETHEREUM in its public budget, I expect BitMine’s fortunes closely related to the procedure in ETHEREUM – more than the basics of BitMine. This raises the question: As an investor, why don’t you buy ethereum directly?
Before purchasing shares in indulging techniques in a point, consider this:
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