Peter Thiel, the Silicon Valley venture capital titan, has made a groundbreaking move by acquiring a 9.1% stake in BitMine Immersion Technologies through his Founders Fund. This news caused BitMine’s stock price to soar, peaking at a 29.3% increase during the trading session. Thiel’s shift from Bitcoin to Ethereum marks a strategic move as he aims to control the future financial infrastructure.
In 2023, Founders Fund revealed its balanced investment of $200 million each in Bitcoin and Ethereum, signaling that Ethereum had achieved parity with Bitcoin in Thiel’s vision. BitMine, aspiring to be the Ethereum equivalent of MicroStrategy, doubled its Ethereum holdings from $500 million to $1 billion within three days in July 2025. Thiel’s interest extends beyond mere investment; he plans to reshape the financial landscape through investments in trading and compliance infrastructure, stablecoins, and on-chain derivatives.
While Bitcoin grapples with its identity, Ethereum is becoming the core of decentralized finance (DeFi) and tokenization of real-world assets (RWA). An investor close to Founders Fund noted that Ethereum is crucial for controlling future financial infrastructure due to its capabilities in generating interest and supporting DeFi applications. Thiel’s ambitions involve controlling the channels through which these assets flow.
Bullish Exchange has quietly submitted an IPO, and Thiel supports Erebor Bank, a bank planning to hold stablecoins and cater to crypto companies. His significant stake in CoinDesk underlines his intention to dominate the industry discourse. Thiel’s journey from Bitcoin to Ethereum reflects an evolution in his financial vision.
His early investments in Bitcoin and ventures into EOS and Layer1 financing showcase his foresight. His controversial remarks about Bitcoin as a potential financial weapon used by China align with his broader strategic goals of leveraging cryptocurrency for geopolitical and financial influence. Thiel’s ultimate goal seems to revisit his original ambition from his PayPal days—to create a new form of currency.
His investments show a clear focus on protocols and infrastructure that could reshape the financial system, emphasizing foundational technologies over individual applications.
BitMine’s rapid Ethereum accumulation
Peter Thiel’s substantial investments in Ethereum and his strategic positioning within the crypto ecosystem signify a deliberate move to pioneer a new financial infrastructure.
His actions reflect a blend of foresight and ambition, aiming to fulfill his long-standing dream of revolutionizing the world of finance. Shares of BitMine Immersion Technologies surged Wednesday after Peter Thiel’s investment through Founders Fund. The stock was last higher by 12%, and earlier, it surged as much as 29%.
Companies with a similar focus rose in tandem. BitMine, a bitcoin mining company, recently initiated a buying strategy around ether and appointed Tom Lee of Fundstrat as chairman of its board. The stock has rocketed more than 900% since then.
The current wave of interest in Ethereum and related assets follows announcements of new developments and a groundswell of interest in stablecoins throughout June. The price of Ethereum itself also continued its rally, up more than 4% Wednesday, doubling in price in the past three months. Thiel is a venture capitalist and hedge fund manager best known as a cofounder of PayPal and an early investor in Facebook.
Founders Fund was also an investor in Tagomi, the crypto brokerage acquired by Coinbase in 2020, and Polymarket, the prediction market built on Ethereum. BitMine Immersion Technologies, Inc. (NYSE AMERICAN: BMNR), a mining company, announced that the Company’s common stock is now available for options trading on the New York Stock Exchange (NYSE) starting July 23, 2025, under the ticker symbol “BMNR.”
This listing of options is expected to enhance liquidity and provide investors with increased flexibility to manage risk, leverage positions, and express views on the Company’s future stock performance.
Thomas Lee, Chairman of BitMine’s Board of Directors, stated, “Options trading on the NYSE is a major milestone for BitMine, giving investors more ways to participate in our continued growth. It reflects growing confidence in our vision and supports our ambitious goal of acquiring 5% of the global supply and becoming one of the largest institutional holders in the world.”
BitMine is a network company focused on the accumulation of assets for long-term investment, whether acquired through mining operations or from the proceeds of capital-raising transactions. The company’s business lines include mining, synthetic mining, hashrate as a financial product, and offering advisory and mining services to companies interested in earning denominated revenues.