Shares of Crypto mining service provider Bitmine immersion technologies held 12.5% rallies after the bell on Tuesday as billionaire venture capitalist Peter Theal stakes more than 9% in the firm.
According to a regulator, Theal bought 5.09 million shares in Bittimine through various weapons of the founder fund of his venture capital firm, according to a regulator. Admission On Tuesday.
Thiel is known for co-founder payment veteran PayPal and software firm and defense contractor Palaantir Technologies. Their estimated net value is $ 22.7 billion, which makes him the 92nd richest person in the world, According To Forbes.
Earlier this month, Thiel and other technical billionaires filed for a bank charter to launch a new financial institution called ERerborp, aimed at filling the zero created by the fall of Crypto-Freedy Silicon Valley Bank in 2023.
In June, The Founders Fund of Thiel allegedly led the funding round of $ 200 million in the Prediction Market Platform Polymarkat in a $ 1 billion valuation.
The Digital Asset Exchange, the Theal-supported Bullish has filed a confidential paperwork to publicly go through an initial public offering.
Bitmine stock rallies
The stock in BMNR (BMNR) reduced Tuesday’s trading session 2.5%, but reached $ 44.97 after 12.5% hour, According For Google Finance.
After the bell, the stock was trading at $ 48.50 at one point, an increase of more than 21% from the end of the regular trading session.
The stock is about 400% above May 8 in the US on 8 May at $ 8 on 8 May.
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During the quarter ended May 2025, the firm reported that its net revenue was 67.5% year-on-year, while its net profit increased by 43.18% during the same period.
Bitmine’s Eth Bet
On Monday, Bitmine Said It is now more than half a billion ether in its treasure.
Till Monday, the firm held more than 163,000 ETHs in its reserve, purchased at an average price of $ 3,072 per token.
The firm recently raised $ 250 million through a private placement that ended on 9 July to jump its ether treasury.
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