Thiel’s Crypto Gambit: BitMine Soars as Silicon Valley Watches 🚀💰

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Amid the swirling mists of regulatory filings, a revelation emerged: Thiel, through his Founders Fund, has acquired over 5 million shares of BitMine, securing a 9.1% stake. A stake, one might say, as significant as a poet’s pen in the annals of financial history.

While BitMine’s stock dipped slightly before the market’s final bow, the news of Thiel’s investment sent shares soaring to $44.97, a dramatic leap from its modest $8 debut in May. It’s as if the market, in a sudden fit of inspiration, decided to rewrite the script of BitMine’s destiny.

Thiel, the co-founder of PayPal and Palantir, a man whose net worth rivals the GDP of small nations at nearly $23 billion, has been increasingly drawn to the siren call of crypto. It’s a tale of a seasoned investor, perhaps feeling the winds of change, or simply the thrill of a new adventure.

This month, Thiel has been particularly busy. He’s applied for a bank charter for Erebor, a financial venture that aims to fill the void left by the defunct Silicon Valley Bank. It’s a bold move, akin to building a new temple on the ruins of the old. He’s also leading a $200 million funding round for Polymarket and backing Bullish, a digital asset exchange that’s preparing to make its grand entrance on the public stage.

BitMine, now the proud holder of over $500 million in Ether, reported a 67.5% revenue jump and a 43% profit growth in the last quarter. The company, not content with its current treasures, has raised $250 million to further expand its Ethereum reserves, acquiring 163,000 ETH at an average price of $3,072. It’s a move that suggests BitMine is not just a player in the game, but perhaps the game itself, or at least the dealer of the cards.

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2025-07-16 14:47