Peter Thiel has revealed a 9.1 percent stake in BitMine Immersion Technologies, a company positioning itself as an Ethereum treasury vehicle under the leadership of Tom Lee. The disclosure came through a recent SEC filing and immediately sparked strong market reaction.
Strategic Ethereum accumulation underway
BitMine currently holds over 163,000 ETH, valued at more than 500 million dollars. Earlier this year, the company raised 250 million dollars in a private round to accelerate its ETH acquisition strategy. The appointment of Tom Lee as chairman has added institutional credibility to the firm’s long-term vision.
Market responds to Thiel’s entry
Following the filing, shares of BMNR rose by over 20 percent, marking the company’s best single-day performance since its strategic pivot to crypto treasury operations. Thiel’s Founders Fund is now the company’s largest shareholder, signaling high-level confidence in Ethereum as a long-term store of value.
Ethereum’s MicroStrategy moment
Many in the industry see BitMine’s approach as a parallel to MicroStrategy’s Bitcoin playbook, but centered around Ethereum. Thiel’s move may inspire other firms to adopt ETH as a primary reserve asset, reinforcing Ethereum’s role in institutional portfolios.
