Shares of BitMine Immersion Technologies Inc. (AMEX:BMNR) surged overnight after billionaire venture capitalist Peter Thiel revealed a substantial 9.1% stake in the company, according to a regulatory filing released Tuesday.
Thiel, known for his early backing of tech giants like PayPal and Facebook, now holds roughly 5.09 million shares in the crypto mining and digital asset treasury firm, making him a prominent passive shareholder. The disclosure notes the position was established as of July 8.
Following the news, BitMine’s stock jumped 12.7% to $44.98 in after-hours trading by 00:29 ET Wednesday.
The company has recently pivoted its focus toward amassing a significant Ethereum treasury. After securing $250 million through a private placement to acquire ETH, BitMine now holds more than 163,000 ETH—worth over $500 million—cementing its role in the growing trend of corporate crypto reserves.
Thiel’s investment underscores a wider movement among public companies to integrate cryptocurrencies like Ethereum and Bitcoin into their balance sheets. The move comes as Ethereum recently climbed to a five-month high, and Bitcoin reached a new all-time high above $123,000 earlier this week.
BitMine Immersion Technologies stock price
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