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Billionaire Peter Thiel Indirectly Enters Ethereum, Discloses Holding BMNR Shares
Summary: According to reports, billionaire and top Silicon Valley investor Peter Thiel's Founders Fund Growth II Management disclosed in SEC filings submitted late Tuesday that it holds a 9.1% stake in BitMine Immersion Technologies as of July 8. BitMine recently announced a shift to an Ethereum reserve strategy, sparking a buying frenzy for the stock. BitMine ...
According to reports, billionaire and top Silicon Valley investor Peter Thiel's Founders Fund Growth II Management disclosed in SEC filings submitted late Tuesday that it holds a 9.1% stake in BitMine Immersion Technologies as of July 8.
BitMine recently announced a shift to an Ethereum reserve strategy, sparking a buying frenzy for the stock. BitMine completed a $250 million initial private placement last week, planning to accumulate the native cryptocurrency ETH of the Ethereum blockchain. The company announced on Monday that it currently holds 163,142 ETH.
Prior to announcing the Ethereum reserve strategy, BitMine had a market value of only $25.86 million, with its stock price falling about 45% year-to-date. According to Benzinga Pro data, as of Tuesday's close, BitMine's market value has increased to approximately $2.12 billion.
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