Peter Thiel Reveals 9.1% Stake in Tom Lee’s ETH-Focused Bitmine Immersion Technologies

Bitmine Immersion Technologies (BMNR), the ether treasury strategy firm helmed by Fundstrat’s Thomas Lee, is rebounding on Wednesday on news that prominent tech investor Peter Thiel invested in the company.

According to a Tuesday filing to the U.S. Securities and Exchange Commission (SEC), Thiel purchased 9.1% of the firm’s common shares through various investment funds.

BMNR shares were up 25% approaching the noon hour in the U.S., changing hands at around $48. It was a $4 stock prior to the ether pivot announced last last month.

Excitement continues to grow around the growing trend of corporate ETH acquisition strategies, and it’s giving a boost to ETH itself, which is up another 9% today and 23% over the past week. That compares to bitcoin’s more modest 9.6% advance over the past seven days.

Other ETH treasury firms also surged during Wednesday’s session. Sharplink Gaming (SBET) was up 17%, while BTCS was 25% higher as it was added to the Russel Microcap index.

Read more: Altcoins Outperform as Rally Gains Steam: Crypto Daybook Americas