BitMine surges after-hours as Peter Thiel discloses 9% stake

Key Points

1. Peter Thiel bought a 9.1% stake in BitMine through his venture capital firm Founders Fund, acquiring 5.09 million shares.

2. BitMine's stock (BMNR) rallied 12.5% after-hours, reaching $44.97, after ending the regular trading session down 2.5%.

3. The stock briefly surged over 21% in after-hours trading, peaking at $48.5.

4. BitMine's stock has risen nearly 400% since its US debut on May 8 at $8.

5. Thiel is known for co-founding PayPal and has been involved in other crypto-related investments, including a $200 million funding round for Polymarket.