Billionaire investor Peter Thiel has acquired a 9.1% stake in crypto mining company BitMine Immersion Technologies, prompting a sharp surge in the company’s shares during after-hours trading on Tuesday.
Thiel purchased 5.09 million shares of BitMine via his venture capital firm, Founders Fund, according to a regulatory filing. Following the announcement, BitMine’s stock jumped 12.5% after the regular trading session, reaching a peak of $48.50, which marked a 21% increase compared to the closing price. The company’s shares have soared nearly 400% since its US market debut in May at $8 per share.
JUST IN: Peter Thiel acquires 9% stake in Ethereum treasury firm BitMine. pic.twitter.com/51Tnjve9Z5
— ChainDesk (@ChainDesk_) July 16, 2025
Peter Thiel, famed for co-founding PayPal and Palantir Technologies, is currently ranked the world’s 92nd richest person, with a net worth of around $22.7 billion. This latest move strengthens his growing presence in the crypto and blockchain sectors.
BitMine has recently made significant operational strides, reporting a 67.5% year-on-year increase in net revenue and a 43% rise in profits for the quarter ending May 2025. A notable development is BitMine’s substantial Ether (ETH) treasury: the company announced it holds over 163,000 ETH, valued at more than $500 million, acquired at an average price of $3,072 per token. This position was boosted by a $250 million private placement completed in early July aimed at growing its ETH reserve.
Moreover, Thiel’s involvement in blockchain extends beyond BitMine. Earlier this year, he joined other tech leaders in filing for a bank charter for Erebor, a new financial institution designed to address gaps left by the 2023 collapse of Silicon Valley Bank. Additionally, Founders Fund has led a $200 million funding round for the prediction market platform Polymarket, which is valued at $1 billion. Thiel-backed Bullish, a crypto exchange, has also filed confidential paperwork for an initial public offering this year.
This strategic investment by Thiel marks a significant endorsement of BitMine’s growth and crypto treasury strategy, bolstering market confidence in crypto mining companies amidst evolving industry dynamics.
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