Technology investor Peter Thiel has acquired a 9.1% ownership stake in cryptocurrency miner BitMine Immersion Technologies, purchasing over 5 million shares. The investment triggered a significant market reaction, with BitMine’s stock surging 12.5% in after-hours trading to reach $44.97 per share.
This move signals strong investor confidence in BitMine’s performance and Ethereum-focused strategy. The company has seen remarkable financial growth with a 67.5% year-over-year revenue increase and 43.18% net profit expansion. Since its U.S. market debut in May 2025, BitMine’s stock has soared nearly 400%.
Central to BitMine’s strategy is its substantial Ethereum reserve, holding over 163,000 ETH valued at more than $500 million. This positions the company to capitalize on Ethereum’s long-term value proposition and decentralized finance applications. To further strengthen its position, BitMine recently secured $250 million through a private placement to enhance liquidity and expand its ETH treasury.
Thiel’s backing extends beyond BitMine, with his Founders Fund leading a separate $200 million investment round for prediction market platform Polymarket and supporting crypto exchange Bullish. These coordinated investments demonstrate prominent investors’ expanding engagement across the crypto ecosystem.