🚀 BitMine Stock Rockets 20% AH as Peter Thiel Discloses 9% Stake – Crypto Miners in Play?

Silicon Valley's contrarian king strikes again. Peter Thiel just dropped a 9% ownership bomb on BitMine—and the market's scrambling to catch up.

Why crypto miners are the new meme stocks

After-hours traders sent BitMine shares vertical like a BTC breakout. Thiel's move screams conviction play—or another billionaire's casino chip on the digital economy's roulette wheel.

The cynical take

Wall Street's suddenly 'bullish on blockchain infrastructure' (translation: they missed the Bitcoin rally again). Meanwhile, retail's left parsing whether this is genius or just Thiel recycling his PayPal playbook with a crypto twist.

One thing's certain: when the tech oligarchs start accumulating shovels in a gold rush, it's time to check your exposure—and your assumptions.

Peter Thiel Entities Buy Over 9% of Ethereum-Focused BitMine

According to filings with the US SEC (Securities and Exchange Commission), Peter Thiel-linked Founders Fund bought 5,094,000 shares across multiple entities associated with BitMine Immersion Technologies.

The shares accounted for a 9.1% stake in BitMine, and came barely three weeks after Founders Fund invested in the software company.

Peter Thiel just discloed a 9.1% stake in Tom Lee's new $BMNR ethereum Trust Company according to this new SEC filings pic.twitter.com/Od4Y9al1qD

Following this move, BitMine Immersion Technologies’ BMNR soared over 12%, trading for $44.97 pre-market.

With this purchase, Peter Thiel’s Founders Fund follows Pantera, Galaxy, and Kraken Exchange in the venture.

These firms also bought shares in BitMine Immersion Technologies. Their collaboration is inspired by a common goal: building an Ethereum treasury.

BitMine raised $250 million via private placement to kickstart its treasury and appointed Fundstrat co-founder Tom Lee as Chairman of the Board, who has served as CIO since June.

BitMine Immersion announced on Tuesday, July 14, that it holds over 163,000 ETH worth over $500 million, as part of its Ethereum treasury strategy.  

“Since closing on the $250 million private placement, we have surpassed $500 million in Ethereum holdings, which validates our mission to increase our stake in the Ethereum network,” said Tom Lee

Meanwhile, the firm adds to a growing list of traditional finance (TradFi) players building Ethereum treasuries. Others include SharpLink and BTCS (Blockchain Technology Consensus Solutions).

As BeInCrypto reported, SharpLink recently bought 31,487 ETH tokens, including a major 21,487 ETH purchase split between Galaxy Digital and Coinbase Prime.

The company’s ETH stash now totals 253,000, fully staked and restaked, yielding an unrealized profit of $45 million. Meanwhile, BTCS has increased its Ethereum holdings by 221% since 2024.

As of July 11, 2025, $BTCS reached $96.3 Million in combined crypto and cash market value. This includes 29,122 $ETH, which marks a 221% increase in Ethereum holdings since year end 2024.

Year-to-date BTCS has raised $62.4 million to support the execution of our DeFi/TradFi… pic.twitter.com/ylEFmM520M

The synergy around Ethereum comes amid interest in the network’s “protocol-level activities”, according to BitMine, which cited DeFi, staking, and stablecoins as distinguishing elements. 

6/ Why ETH? Lee points to Ethereum’s dominance in stablecoins, tokenized assets and DeFi. He even called stablecoins the “ChatGPT of crypto” because of their viral product-market fit.

As of this writing, Ethereum was trading for $3,143, after climbing almost 6% in the last 24 hours.

Analysts also say it may be the right time to invest in Ethereum, as experts highlight early signs of an altcoin season.

Among the signs is a falling Bitcoin dominance despite BTC price hitting new highs. Similarly, the altcoin season index recently hit a multi-month high.

I can't believe that I'm saying this, but maybe it's actually time to rotate more towards $ETH.