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Peter Thiel’s Founders Fund has acquired a 9.1% stake in BitMine Immersion Technologies, signaling a strategic move to build a substantial Ethereum-focused treasury.
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Following this investment, BitMine’s stock surged over 12% in after-hours trading, reflecting growing market confidence in its Ethereum-centric approach.
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BitMine’s Ethereum treasury now holds more than $500 million worth of ETH, doubling its initial $250 million capital raise and marking a significant milestone in Ethereum’s institutional adoption.
Peter Thiel’s Founders Fund invests in BitMine Immersion Technologies, boosting its Ethereum treasury to over $500 million and sparking a 12% stock surge amid growing altcoin interest.
Peter Thiel’s Founders Fund Secures 9.1% Stake in BitMine to Expand Ethereum Treasury
Recent SEC filings reveal that Founders Fund, affiliated with Peter Thiel, has purchased 5,094,000 shares in BitMine Immersion Technologies, representing a 9.1% ownership stake. This acquisition comes just weeks after the fund’s initial investment, underscoring a strong commitment to BitMine’s Ethereum-focused strategy.
BitMine’s stock price reacted positively, climbing over 12% in after-hours trading to $44.97 per share, signaling investor enthusiasm for the company’s growing Ethereum treasury initiative. This move aligns Founders Fund with other notable investors such as Pantera Capital, Galaxy Digital, and Kraken Exchange, all collaborating to build a robust Ethereum treasury.
BitMine’s Ethereum Treasury Surpasses $500 Million, Doubling Initial Capital
BitMine initially raised $250 million through a private placement to establish its Ethereum treasury. Since then, the company has expanded its holdings to over 163,000 ETH, valued at more than $500 million. Tom Lee, Fundstrat co-founder and BitMine’s Chairman, emphasized the significance of this growth, stating, “Since closing on the $250 million private placement, we have surpassed $500 million in Ethereum holdings, which validates our mission to increase our stake in the Ethereum network.”
This milestone highlights a broader trend among traditional finance players who are increasingly allocating capital to Ethereum assets. Firms like SharpLink and BTCS have also significantly increased their Ethereum exposure, with SharpLink’s ETH holdings reaching 253,000 tokens and BTCS boosting its Ethereum assets by 221% since 2024.
Growing Institutional Interest in Ethereum Amid Signs of an Emerging Altcoin Season
The surge in Ethereum treasury investments coincides with a broader market shift as capital flows from Bitcoin into altcoins. Analysts note that despite Bitcoin’s recent price strength, its market dominance is declining, creating favorable conditions for altcoins like Ethereum to gain momentum.
Ethereum’s protocol-level activities—including decentralized finance (DeFi), staking, and stablecoins—are cited as key drivers of institutional interest. BitMine highlights these elements as critical differentiators that enhance Ethereum’s long-term value proposition.
Market observers also point to the altcoin season index reaching multi-month highs and early technical signals suggesting a rotation into Ethereum and other altcoins. This environment encourages investors to consider increasing their exposure to Ethereum as part of a diversified crypto portfolio.
Ethereum Price Performance and Market Outlook
As of the latest trading session, Ethereum was priced at approximately $3,143, reflecting a near 6% increase over 24 hours. This price movement aligns with the growing enthusiasm around Ethereum treasuries and institutional adoption.
Experts suggest that Ethereum’s expanding use cases and robust network activity position it well for sustained growth, especially as traditional finance entities deepen their involvement in the crypto ecosystem.
Conclusion
Peter Thiel’s Founders Fund investment in BitMine Immersion Technologies marks a significant endorsement of Ethereum’s potential as a strategic asset. With BitMine’s Ethereum treasury now exceeding $500 million and a growing coalition of institutional investors embracing Ethereum, the landscape is shifting towards greater altcoin prominence. Investors should monitor these developments closely as they may signal a pivotal moment for Ethereum’s role in the evolving digital asset market.
