Bitmine Shares Soar 25% After Peter Thiel Discloses 9.1% Stake, Fueling ETH Treasury Hype
Bitmine Immersion Technologies (BMNR) surged 25% Wednesday after billionaire investor Peter Thiel revealed a significant stake in the company, boosting momentum around Ethereum-focused treasury strategies.
A U.S. Securities and Exchange Commission (SEC) filing on Tuesday showed Thiel acquired a 9.1% position in BMNR through a range of affiliated investment funds. The disclosure sparked a sharp rally, pushing shares to around $48 by midday—up from just $4 prior to Bitmine’s pivot to ETH strategy in late June.
The move comes as investor interest intensifies around firms adopting Ethereum as a balance sheet asset. Ether itself jumped 9% on the day, bringing its weekly gain to 23%, outpacing bitcoin’s 9.6% rise over the same period.
The rally wasn’t isolated. Other Ethereum treasury plays also surged: Sharplink Gaming (SBET) climbed 17%, and BTCS rose 25% after its inclusion in the Russell Microcap Index.
Bitmine’s latest boost underscores growing investor appetite for ETH-backed strategies as Ethereum gains traction as a treasury reserve asset.
