Billionaire investor Peter Thiel has raised eyebrows in the crypto world after unveiling a 9.1% stake in BitMine Immersion Technologies. Thiel has made this investment through his venture capital firm, Founders Fund and revealed this through an SEC filing on July 15, 2025. This sent the Bitmine stock soaring over 25–30% in early trading on Wednesday before stabilizing with around 20% gains. The stock is up 12% in the last 1 month.
Ethereum treasuries: The new corporate trend
BitMine’s pivot reflects a broader corporate movement toward ETH treasury holdings. Following in MicroStrategy’s footsteps with Bitcoin, firms like SharpLink, Bit Digital, and BTCS are embracing Ethereum treasuries. These companies are betting on ETH’s programmability, staking yields, and smart-contract backbone. Ethereum’s rising utility has convinced corporate treasuries to view ETH not just as an asset but as a productive tool delivering yield. The use cases range from powering stablecoins to DeFi apps, Ethereum can also offer yields of typically 3–4% via staking, which can help them in their future-proof financial reserves.
BitMine’s ETH pivot
Formerly a Bitcoin-mining outfit, BitMine pivoted in June after raising $250 million via private placement to launch an ambitious Ethereum treasury strategy. They also recruiting Tom Lee of Fundstrat as the chairman. As of mid-July, the company reported holdings totaling approximately 163,142 ETH, worth over $500 million, BitMine also holds 154 BTC on its balance sheet, bringing total crypto assets to around $535 million. The company continues to manage industrial-scale Bitcoin mining and hosts third‑party mining operations in low-cost regions like Trinidad and Texas.
