Shares of Bitmine Immersion Technologies (BMNR) surged 20% this morning following the disclosure that tech billionaire Peter Thiel has taken a 9.1% stake in the crypto mining and infrastructure company. The position, revealed in a post-market regulatory filing on Tuesday, makes Thiel the largest known shareholder in Bitmine to date.
Thiel, a longtime advocate of digital assets and co-founder of Palantir Technologies and PayPal, is no stranger to crypto investments. His venture firm, Founders Fund, was an early backer of bitcoin. His involvement with Bitmine is widely viewed as a signal of increased institutional interest in crypto mining operations, particularly as the sector repositions around Ethereum and other next-generation blockchain protocols.
Bitmine, which operates both proprietary bitcoin mining operations and hosting services for third-party equipment, has also been increasing its exposure to Ethereum. As of July 14, the company held 163,142 ETH valued at more than $500 million at current market prices.
The post Thiel Takes a Stake: Bitmine Stock Surges as Billionaire Investor Revealed as Major Shareholder appeared first on PRISM MarketView.
