BitMine stock surged over 12% in after-hours trading following billionaire investor Peter Thiel’s disclosure of a 9.1% stake in the crypto mining firm. The rally underscores renewed confidence in BitMine’s business model, strong financial results and ambitious Ether treasury build-up.
Key Takeaways
- Peter Thiel’s Founders Fund acquired 5.09 million BitMine shares, representing a 9.1% stake.
- Shares fell 2.5% during regular trading but jumped 12.5% after-hours, peaking at $48.50.
- BitMine’s Q1 net revenue rose 67.5% year-over-year; net profits increased 43.2%.
- The company holds over 163,000 ETH in its treasury, purchased at an average of $3,072 each.
Thiel’s Strategic Investment
Peter Thiel, co-founder of PayPal and Palantir, disclosed his 9.1% position in BitMine via regulatory filings on Tuesday. His Founders Fund purchased 5.09 million shares, signaling strong institutional belief in the crypto miner’s growth prospects.
Thiel’s recent initiatives include:
- Filing for a bank charter to establish Erebor, a crypto-friendly financial institution.
- Leading a $200 million funding round for prediction market platform Polymarket.
- Taking Bullish, a digital asset exchange he backs, closer to an IPO.
Stock Performance And Market Reaction
During Tuesday’s regular session, BitMine (ticker: BMNR) dipped 2.5%. However, in after-hours trading, shares surged 12.5% to close at $44.97, briefly reaching $48.50—over a 21% gain from the regular close.
Price milestones:
| Session | Closing Price | Change |
|---|---|---|
| Regular Trading | $39.98 | –2.5% |
| After-Hours | $44.97 | +12.5% |
| All-Time High (AH) | $48.50 | +21.3% (AH) |
Since its U.S. debut on May 8 at $8, BitMine shares have climbed nearly 400%.
BitMine’s Financial Highlights
In the quarter ending May 2025, BitMine reported:
- Net revenue of $XX million, up 67.5% year-over-year
- Net profit increase of 43.18%
These robust results reflect growing demand for outsourced crypto mining services and operational efficiencies achieved over the period.
Ether Treasury Accumulation
BitMine has aggressively built an Ether reserve, holding 163,000 ETH—worth over $500 million at recent prices. The tokens were acquired at an average cost of $3,072 each.
To finance this, the company closed a $250 million private placement on July 9, earmarked for its Ether treasury strategy.
By coupling strong financial performance with strategic asset accumulation, BitMine aims to cement its position as a leading publicly traded crypto miner.
Sources
- BitMine Shares Rallied After Peter Thiel Investment., Cointelegraph.
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