Peter Thiel, Co-founder of PayPal, Acquires 9% Stake in BitMine

YM Lee

Summary

It was reported that Peter Thiel acquired a 9.1% stake in BitMine Immersion Technologies.
BitMine has recently emerged as a major Ethereum holding company.
BitMine's Ethereum holdings amount to 163,000 ETH, with an estimated value of about $500 million.

Peter Thiel, a well-known venture capitalist and PayPal co-founder, has reportedly acquired a stake in BitMine Immersion Technologies.

On the 16th (local time), CryptoBriefing cited documents submitted to the Securities and Exchange Commission (SEC), reporting that "Peter Thiel reported joint voting and disposal rights for a total 9.1% stake in BitMine Immersion Technologies, corresponding to 5,094,000 shares."

BitMine, a cryptocurrency mining company, has recently reinvented itself as a leading holder of Ethereum. Currently, BitMine holds 163,000 ETH in Ethereum, valued at about $500 million.

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