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Investing.com-- Billionaire investor Peter Thiel has acquired a 9.1% holding in Bitmine Immersion Technologies Inc (NYSE:BMNR), a crypto-mining and treasury firm, according to a regulatory filing published on Tuesday.
Thiel’s stake totals approximately 5.09 million shares, positioning him as a significant passive investor in the company. The filing indicated the position was accumulated as of July 8.
Company shares surged 12.7% to $44.98 in the overnight trading session on Wednesday, as of 00:29 ET.
BitMine has recently shifted its strategy toward building a large Ethereum treasury. Following a $250 million private placement aimed at acquiring Ethereum, the company now holds over 163,000 ETH in its reserves, valued at more than $500 million.
Thiel’s investment comes amid a broader trend of public firms accumulating digital assets such as Ethereum and Bitcoin as part of their corporate treasuries.
Earlier this week, Ethereum jumped to over a five-month high, while Bitcoin reached a record high above $123,000.