Peter Thiel makes a big bet on Ethereum, buying a stake in BitMine Immersion Technologies

Peter Thiel and his fund #foundersfund have just acquired a 9.1% stake in BitMine Immersion Technologies, a cryptocurrency mining and treasury company. This move comes amid a strong increase in interest in holding Ethereum (ETH) in corporate treasuries, with BitMine recently raising its ETH holdings to over $500 million.

The volatility of BitMine's stock and treasury trends $ETH

Thiel's stake purchase was revealed in a filing submitted to the SEC on Tuesday, showing that the Founders Fund bought 5,094,000 shares. Other major investors such as Pantera Capital, Galaxy Digital, and Kraken also participated in this fundraising round, with the proceeds expected to be used to expand the Ethereum reserves of #Bitmine .

BitMine's stock (BMNR) has experienced extreme volatility since the company announced its Ethereum treasury strategy, with prices fluctuating widely. Although Bitcoin treasuries remain more popular, companies are gradually recognizing the potential of Ethereum as a versatile asset, playing a central role in on-chain finance (staking, gas, collateral assets). The involvement of major names like Peter Thiel and the appointment of Fundstrat co-founder Tom Lee as Chairman of the Board of BitMine indicates a new trend: Ethereum is gradually becoming an important part of institutional investment portfolios.