Ethereum Mining Play Bitmine Attracts Peter Thiel, Who Reveals 9.1% Position

Bitmine Jumps 25% on Peter Thiel Stake, Ethereum Treasury Theme Gains Traction

Bitmine Immersion Technologies (BMNR) rallied 25% on Wednesday following the disclosure that tech billionaire Peter Thiel has taken a 9.1% stake in the company, adding fuel to the growing momentum behind Ethereum-focused corporate treasury strategies.

In a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday, Thiel revealed his position was accumulated through multiple investment entities. BMNR shares surged to nearly $48 by midday, a remarkable leap from just $4 before the company announced its pivot to ether holdings late last month.

The broader ETH treasury narrative continues to gain steam. Ethereum rose another 9% today and is up 23% over the past week—well ahead of bitcoin’s 9.6% seven-day gain—bolstered by corporate adoption and capital rotation.

Several other ETH-aligned firms also posted strong gains. Sharplink Gaming (SBET) rose 17%, while BTCS jumped 25% after its addition to the Russell Microcap Index.

With investor attention shifting toward digital assets like ETH for corporate balance sheets, Bitmine’s rebound highlights the accelerating trend of decentralized finance integration within traditional equity markets.