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By Krisztian Sandor|Edited by Stephen Alpher
Jul 16, 2025, 3:10 p.m.
- An SEC disclosure revealed funds associated with prominent tech investor Peter Thiel had acquired a 9.1% stake in Bitmine Immersion Technologies.
- The firm is one of growing number of public companies that recently pivoted to a crypto treasury strategy centered on Ethereum’s ETH.
- Bitmine, helmed by Fundstrat’s Thomas Lee, has acquired over 163,000 ETH, valued at more than $500 million.
Bitmine Immersion Technologies (BMNR), the ether treasury strategy firm helmed by Fundstrat’s Thomas Lee, is rebounding on Wednesday on news that prominent tech investor Peter Thiel invested in the company.
According to a Tuesday filing to the U.S. Securities and Exchange Commission (SEC), Thiel purchased 9.1% of the firm’s common shares through various investment funds.
STORY CONTINUES BELOW
BMNR shares were up 25% approaching the noon hour in the U.S., changing hands at around $48. It was a $4 stock prior to the ether pivot announced last last month.
Excitement continues to grow around the growing trend of corporate ETH acquisition strategies, and it’s giving a boost to ETH itself, which is up another 9% today and 23% over the past week. That compares to bitcoin’s more modest 9.6% advance over the past seven days.
Other ETH treasury firms also surged during Wednesday’s session. Sharplink Gaming (SBET) was up 17%, while BTCS was 25% higher as it was added to the Russel Microcap index.
Read more: Altcoins Outperform as Rally Gains Steam: Crypto Daybook Americas
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University’s business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
