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Billionaire venture capitalist Peter Thiel has taken a notable 9.1% stake in BitMine Immersion Technologies Inc (NASDAQ:IMMR), a crypto-mining and digital asset treasury firm, according to a regulatory filing dated July 8. Thiel’s position amounts to roughly 5.09 million shares, marking him as a significant passive investor in the company.
BitMine shares surged 12.7% to $44.98 in overnight trading on Wednesday, following news of the acquisition. The market reaction highlights growing investor interest in companies with substantial exposure to Ethereum and other digital assets.
BitMine has recently pivoted its strategy to focus on building one of the largest Ethereum treasuries among public firms. Following a $250 million private placement, the company has acquired over 163,000 ETH, now valued at more than $500 million. This move aligns with a broader trend of corporations integrating crypto assets into their balance sheets as long-term stores of value and strategic reserves.
Thiel’s investment reinforces institutional confidence in Ethereum’s future, especially as ETH prices recently hit a five-month high. Bitcoin has also rallied to a record high, climbing above $123,000, signaling renewed bullish sentiment in the crypto market.
The timing of Thiel’s move suggests a strategic bet on Ethereum's growing role in decentralized finance and institutional adoption. His backing could further legitimize BitMine’s ETH-focused treasury strategy and signal broader interest in crypto-based corporate reserve models.
As digital assets gain mainstream momentum, Thiel’s investment in BitMine may be a leading indicator of further capital inflows into crypto-focused firms, particularly those aligning with Ethereum’s long-term growth trajectory.
