Peter Thiel’s Founders Fund disclosed a 9.1% passive stake in BitMine Immersion Technologies, according to a Schedule 13G filed with the U.S. Securities and Exchange Commission on 15 July. The filing shows Thiel-linked entities hold 5,094,000 common shares in the company, which trades on Nasdaq under the ticker BMNR.

BitMine, chaired by Fundstrat co-founder Tom Lee, has shifted from Bitcoin mining to building a corporate Ethereum treasury. Decrypt reports the firm now holds more than $500 million in Ether after a June private placement that sold over 55 million shares at $4.50 apiece to finance additional crypto reserves.

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