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Bitmine Refutes Claims of ARK Selling 5.2 Million Shares

Ark Invest further increased its BitMine stake with a November 13 purchase of 242,347 shares, showing continued confidence despite recent price volatility and prior denial of sell-off rumors.

Fact Check
The evidence strongly supports the statement's truthfulness. A highly relevant news article from PA Daily News directly reports that Bitmine used its official Twitter account to refute a rumor that 'Cathie Wood's ARK sold 5.2 million shares of BMNR,' stating the claim was incorrect. This is the most direct piece of evidence. This refutation is further contextualized by another news report indicating that ARK Invest had actually purchased a major stake in BitMine, which contradicts the rumor of a sale and provides a logical motive for Bitmine to issue a clarification. A press release from BitMine itself confirms the business relationship between the two entities. No provided source contradicts the claim that Bitmine made this refutation.
Summary

Ark Invest announced the acquisition of 242,347 shares of Bitmine (BMNR) on November 13, expanding its holdings beyond the previously disclosed November 8 purchase of 43,454 shares. The transactions counter recent sell-off speculation and bring Ark’s total BMNR stake to 482,854 shares. The purchases were made through its ARKK and ARKW funds during a period of market fluctuations, underscoring Ark’s ongoing commitment to BitMine’s long-term prospects.

Terms & Concepts
  • ARK Investment Management: A U.S.-based asset management firm known for investing in innovative and disruptive technologies.
  • BMNR Shares: Equity issued by Bitmine, representing ownership in the company.