news 
Peter Thiel, the PayPal co-founder and billionaire investor, has made a significant investment in BitMine Technologies, a company that holds nearly half a billion dollars worth of Ethereum. According to a recent SEC filing, Thiel-linked entities acquired a 9.1% stake in BitMine Immersion Technologies.
The massive investment, worth over $500 million, makes Thiel the second-largest shareholder of the company behind only SharpLink Gaming. This new development has sent shockwaves throughout the cryptocurrency market, as many have speculated on the potential implications for Ethereum’s value and overall sentiment.
In related news, the Ethereum price rose 5.63% following the announcement, climbing to over $3,144. Meanwhile, ETH futures open interest increased by a whopping 7%, indicating a strong bullish trend among traders.
As one of the largest holders of Ethereum, BitMine Immersion Technologies’ pivot to an Ethereum treasury strategy has resulted in its stock price surging as much as 45% following Thiel’s investment.
Source: coincentral.com
