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Billionaire Peter Thiel is betting large on Ethereum, becoming a member of Fundstrat’s Tom Lee in an ETH treasury play by way of the acquisition of a $250 million stake in BitMine Immersion Applied sciences.
A July 15 SEC submitting exhibits Thiel’s Founders Fund acquired 5,094,000 shares, representing a 9.1% stake within the crypto mining and Ethereum treasury agency led by Fundstrat CIO Lee.
That disclosure follows an announcement on the finish of June that Founders Fund had invested in BitMine.
BitMine shares (BMNR) surged greater than 19% in after-hours buying and selling, in response to Yahoo Finance. Over the previous month, BMNR has soared 705%.
Crypto Heavyweights Be part of Thiel In BitMine Funding
Thiel and Fund Strat acquired the shares by way of a $250 million non-public providing that concluded on July 9. Different firms additionally participated within the spherical, together with crypto heavyweights corresponding to Pantera Capital, Galaxy Digital and Kraken.
Throughout that personal placement, over 55 million shares had been offered at $4.50 every. The proceeds had been then utilized by BitMine to purchase extra ETH.
Bitmine @BitMNR $BMNR doubles $ETH holdings to $500 million
👇– Personal placement July ninth: $250 million of $ETH
– 3 buying and selling days later: $500 million of ETH (163,142 tokens)Jonathan Bates, CEO of BitMine.
“Clearly Wall Road is getting ‘ETH-pilled.’” https://t.co/MFtIV38DI2— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) July 14, 2025
The SEC submitting exhibits that Thiel’s funding was for a passive position, which means he doesn’t intend to affect management of BitMine.
BitMine One Of The Largest Company Ethereum Holders
BitMine, which was initially a Bitcoin mining-focused firm, has transitioned to a treasury agency underneath CEO Jonathan Bates and recently-appointed Lee.
Ever for the reason that firm started with its Ethereum treasury plan, the corporate has bought 163,000 ETH. With the altcoin chief buying and selling at $3,164.98 as of three:24 a.m. EST, the holdings equate to over $515.8 million. This makes the agency one of many largest institutional holders of ETH.
ETH’s worth additionally surged over 6% within the final 24 hours, pushing its achieve over the previous month to greater than 20%. The crypto’s worth continues to be down round 35% from the all-time excessive of $4,891.70 that it set on Nov. 16, 2021.
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