Peter Thiel Backs Ethereum Treasury Company as Bitmine’s $500M ETH Holdings Boost Institutional Interest

TLDR

Table of Contents

Peter Thiel acquired a 9.1% stake in Bitmine Immersion Technologies, totaling 5,094,000 shares.
Bitmine now holds over 163,000 ETH, valued near $500 million—double its initial $250 million capital raise.
Bitmine is the second-largest public Ethereum holder, behind SharpLink Gaming’s 300,000 ETH treasury.
BMNR stock surged 12.5% after Thiel’s investment and is up over 760% in the past month.

Billionaire investor and PayPal co-founder Peter Thiel has taken a major step into Ethereum by acquiring a 9.1% stake in Bitmine Immersion Technologies (NYSE BMNR). This development comes as Bitmine transitions into a public Ethereum treasury company, holding over $500 million worth of ETH. The announcement led to a 12.5% jump in BMNR stock during after-hours trading and has caught the attention of both retail and institutional investors.

The Ethereum price also responded positively, rising 5.63% to trade above $3,144. This move signals renewed momentum in Ethereum holdings strategies among public companies, with Bitmine now positioned as one of the top corporate holders of ETH.

Peter Thiel Backs Ethereum Treasury Company

According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Peter Thiel indirectly purchased 5,094,000 common shares in Bitmine Immersion Technologies. This represents a 9.1% stake in the company, held through several of his affiliated entities.

Thiel’s move follows Bitmine’s announcement of its shift toward becoming a dedicated Ethereum treasury company. The Nevada-based firm raised $250 million in capital last month to start acquiring ETH. Thiel’s support is seen as a major signal to markets that institutional confidence in Ethereum is growing.

The company is led by Tom Lee, known for his market analysis and past crypto commentary. His involvement, alongside Thiel’s investment, may encourage further institutional entry into Ethereum-focused strategies.

Bitmine Accumulates $500 Million in Ethereum Holdings

Bitmine has revealed that it now holds over 163,000 ETH in its treasury, with a total market value approaching $500 million. This is double the amount of capital it initially raised. The large-scale ETH purchase puts Bitmine in second place among public Ethereum holders.

SharpLink Gaming (NASDAQ SBET) remains the largest, with close to 300,000 ETH in its holdings. However, Bitmine’s aggressive accumulation over the past few weeks shows its intention to challenge that position. The firm’s strategy mirrors MicroStrategy’s Bitcoin approach, where corporate treasuries are allocated into a single major crypto asset.

This development comes as Ethereum regains price momentum, making Bitmine’s holdings more valuable. With continued ETH purchases, the company could further increase its market share in Ethereum among public firms.

Ethereum Treasury Strategy Attracts Growing Institutional Interest

The rise of Ethereum-focused corporate treasury strategies is now becoming a broader trend. Bitmine’s pivot and Thiel’s involvement come at a time when public companies are exploring new asset classes to store value. Ethereum, with its growing use cases and market depth, is attracting interest similar to Bitcoin during previous corporate cycles.

ETH futures data supports the growing attention. Open interest rose 7% to over $46 billion, while over $136 million in futures positions were liquidated in the past 24 hours, according to Coinglass. This suggests rising trader participation following bullish news.

The ETH chart shows the token breaking above the $3,100 resistance zone. Analysts are watching for a move toward $3,220 and $3,470 in the short term. However, if prices drop, support may appear at $2,850 and $2,500.

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