BMNR Soars 25% as Peter Thiel Discloses Major Stake; Ethereum Treasury Theme Gathers Steam
Shares of Bitmine Immersion Technologies (BMNR) surged 25% on Wednesday after investor and tech entrepreneur Peter Thiel disclosed a 9.1% stake in the company, signaling growing institutional interest in Ethereum-focused corporate strategies.
The stake, revealed in a Tuesday filing with the U.S. Securities and Exchange Commission (SEC), was acquired through several investment vehicles linked to Thiel. BMNR stock was trading around $48 by midday in New York—up sharply from just $4 prior to the firm’s pivot to ether-based treasury management in late June.
The move comes amid renewed enthusiasm for Ethereum. The world’s second-largest cryptocurrency is up 9% on the day and 23% over the past week, outpacing bitcoin’s 9.6% weekly gain. The rally is being driven in part by increasing adoption of ETH as a balance sheet asset among corporates.
The broader theme also lifted other Ethereum-aligned names. Sharplink Gaming (SBET) jumped 17%, while BTCS advanced 25% following news of its inclusion in the Russell Microcap Index.
Thiel’s backing and growing price action around ETH treasury strategies suggest rising investor confidence in the long-term role of Ethereum in corporate finance.
