Shapto Mining Service Provider Bitmine Immersion Technologies shares a 12.5% after the bell on Tuesday while billionary venture capitalist Peter Thiel rose more than 9% stake at the firm.
Thiel bought a 5.09 million sharing in Bitmine through various arms of his funding of the founder of the Capital Capital Firm worth a 9.1% stake, according to a regulation File on Tuesday.
Thiel is known for co-founding payments of giant PayPal and software firm and contractor of defense Palantir Technologies. His estimated Net Worth stands at $ 22.7 billion, making him the 92 richest man in the world, According to In Forbes.
Earlier this month Thiel and other billion -billion tech filed for a bank charter To launch a new financial institution called Erebor, which aims to fill the void created by the collapse of the crypto-friendly Silicon Valley Bank in 2023.
In June, Thiel’s Founders Fund has been reported leading to a $ 200 Million Funding On the platform of the Polymarket prediction platform, in a $ 1 billion appreciation.
Thiel-back Bullish, a digital asset exchange, has been reported filed Confidential paperwork to go public by an initial offer to the public.
Bitmine Stock Rally
Shares in Bitmine (BMNR) graduated from Tuesday’s trade session of 2.5% but rally at 12.5% after time up to $ 44.97, According to In Google Finance.
After the bell, the stock trades at $ 48.50 at one point, a uprising of more than 21% from the end of a regular trading session.
The stock reached almost 400% after it was dedicated to the US on May 8 at $ 8.
Related: Ethereum becomes preferred Treasury owned for tech-savvy firms
During the quarter end of May 2025, the firm reported that its net income reached 67.5% year-on year, as its net income rose 43.18% at the same time.
Bitmine’s Eth Bet
On Monday, Bitmine Says that now holds more than half a billion ether worth (Eth) in its treasury.
As Monday, the firm will be held by more than 163,000 ETH in its reserve, which is purchased at an average price of $ 3,072 per token.
The company has recently been raised $ 250 million by a private placement It ended on July 9 to jumpstart its ether treasury.
