Billionaire Peter Thiel Takes 9% Stake in Ethereum Treasury Startup
2025-07-16 06:57:31
Main Idea
Billionaire Peter Thiel has acquired a 9.1% stake in BitMine Immersion Technologies, a company that has shifted from Bitcoin mining to accumulating a large Ethereum treasury, now valued at $500 million.
Key Points
1. Peter Thiel's investment in BitMine was made through Founders Fund Growth II Management, giving him control of approximately 5.09 million shares.
2. BitMine has amassed over 163,000 ETH, making it one of the largest Ethereum treasuries among public firms.
3. The private placement that included Thiel's investment raised $250 million and also attracted backing from Pantera Capital, Galaxy Digital, and Kraken.
4. Thiel's investment is passive, but his involvement is seen as significant due to his history of early investments in transformative technologies.
5. BitMine's CEO, Jonathan Lee, has long supported Ethereum and recently described it as being 'on the brink of a major breakout'.
Description
Peter Thiel has taken a major position in BitMine Immersion Technologies, acquiring a 9.1% stake in the firm as it pivots toward becoming a leading Ethereum treasury. The move, disclosed in a recent US SEC filing , signals a growing institutional appetite for Ethereum as a strategic asset. Thiel, best known as a co-founder of PayPal and Palantir, made the investment through Founders Fund Growth II Management. The filing shows Thiel’s entities now control approximately 5.09m shares of BitMine, a ...
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