Oh, Peter Thiel! A Love Story with Ethereum Stocks! 💸😂

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It appears that our dear PayPal luminary, Peter Thiel, has recently decided to dip his toes—nay, plunge—into the glimmering depths of Fundstrat’s Ethereum Treasury delight, Bitmine Immersion Technologies, with a mere 9.1% stake. How positively charming! 🎩

The latest SEC dossier reveals that Sir Thiel has acquired a staggering 9.1% of BMNR. Yes, that’s the stock trading under the rather delightful name of Bitmine Immersion Technologies, helmed by none other than the venerable Tom Lee—no relation to any automobile, I assume!

As of July 16, Peter now possesses shared voting power, which is a fancy way of saying he has a minuscule say in matters, along with some 5.09 million shimmering shares of BMNR. How delightful to be part of a burgeoning crypto cavalcade, alongside other institutional bigwigs who are, of course, vying for the dapper crypto-centric treasury fame. 🕴️

However, the stock price has all the energy of a damp squib—down by 2.58%, darling! But fret not, on a gloriously upbeat note, the stock price has vaulted by nearly 400% year-to-date! One might almost call it the stock market aerobics. 🎉

BitMine has gained quite the reputation for its extensive Ethereum (ETH)-focused strategy, boasting over 163,142 ETH jewels valued at a staggering $3,072.67 per ETH. Overall, a princely fortune of roughly $500 million tucked away—now that’s what I call a cozy nest egg! 🥚💰

In an act of sheer audacity, the recent efforts to stockpile ETH raised the company’s funds from a paltry $250 million only five days prior to this delightful escapade. A splendid plan, really, to increase their ETH holdings through a combination of alchemic reinvestment—if only we could apply that to our dinner parties! 🍷

But alas, before embarking on this charming Ethereum venture, our dear Bitmine had its eyes set on Bitcoin. In June, it scooped up 100 BTC, perfectly timed before another acquisition of 154.167 BTC a week later. All of this with the grace of a catwalk model, using funds secured from a delightful shares affair.

On June 30, the company announced a rather impressive $250 million private placement for Ethereum, showcasing their pivot from Bitcoin to Ethereum, announcing sweetly that Tom Lee would be the new chairman. Oh, darling, what a twist! Can’t wait for the sequel!

“Since closing on the $250 million private placement, we have surpassed $500 million in Ethereum holdings, which validates our mission to increase our stake in the Ethereum network,” Lee proclaimed, and one could almost hear the brass band playing in the background. 💃

After announcing this captivating endeavor, one might say that the stock surged by over 3,000%—it’s positively scandalous! Bravo, really! 🎉🥳

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2025-07-16 11:42