BitMine surges after-hours as Peter Thiel discloses 9% stake

Shares successful crypto mining work supplier BitMine Immersion Technologies rallied 12.5% aft the doorbell connected Tuesday arsenic billionaire task capitalist Peter Thiel scooped up an implicit 9% involvement successful the firm.

Thiel bought 5.09 cardinal shares successful BitMine done assorted arms of his task superior steadfast Founders Fund amounting to a 9.1% stake, according to a regulatory filing connected Tuesday.

Thiel is champion known for co-founding payments elephantine PayPal and bundle steadfast and defence contractor Palantir Technologies. His estimated nett worthy stands astatine $22.7 billion, making him the 92nd richest idiosyncratic successful the world, according to Forbes.

Earlier this period Thiel and different tech billionaires filed for a slope charter to motorboat a caller fiscal instauration called Erebor, which aims to capable the void created by the illness of the crypto-friendly Silicon Valley Bank successful 2023.

In June, Thiel’s Founders Fund was reportedly starring a $200 cardinal backing round successful prediction marketplace level Polymarket, astatine a $1 cardinal valuation.

Thiel-backed Bullish, a integer plus exchange, has reportedly filed confidential paperwork to spell public via an archetypal nationalist offering.

BitMine banal rallies

Shares successful BitMine (BMNR) ended Tuesday’s trading league down 2.5% but rallied 12.5% after-hours to $44.97, according to Google Finance.

After the bell, the banal astatine 1 constituent was trading astatine $48.5, an upswing of much than 21% from the extremity of the regular trading session.

BMNR banal rallied aft the doorbell and ended the after-hours league astatine $44.97. Source: Google Finance.

The banal is up astir 400% aft it debuted successful the US connected May 8 astatine $8.

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During the 4th ended May 2025, the steadfast reported that its nett gross was up 67.5% year-on-year, portion its nett profits accrued by 43.18% during the aforesaid period.

BitMine’s ETH bet

On Monday, BitMine said that it present holds much than fractional a cardinal worthy of Ether (ETH) successful its treasury.

As of Monday, the steadfast held much than 163,000 ETH successful its reserve, which were bought astatine an mean terms of $3,072 per token.

The steadfast had precocious raised $250 cardinal via a backstage placement that ended connected July 9 to jumpstart its Ether treasury.

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