Latest news with #BMNR
Yahoo
16 hours ago
- Business
- Yahoo
Cathie Wood's ARK Loads Up on Ether Treasury Bet Bitmine Immersion
As ether (ETH) continues its record-setting rally, Cathie Wood's ARK Invest is making a bold bet on an ETH treasury play. The asset manager purchased 4.4 million shares of Bitmine Immersion Technologies (BMNR) across its ETFs on Monday, according to trade disclosures, marking a $116 million investment into the Peter Thiel-backed Ethereum treasury firm. ARK's flagship Innovation ETF (ARKK) received the bulk of the allocation with nearly 2.9 million shares. The move comes as Bitmine, helmed by Fundstrat's Tom Lee, cements its position as one of the largest corporate holders of ETH. The company has amassed over 300,000 ETH, worth more than $1 billion, and plans to stake up to 5% of Ethereum's total supply. It's a pivot that's drawn comparisons to MicroStrategy's bitcoin strategy and ignited investor interest in ether as a balance-sheet asset. Aside from the move into BMNR, ARK sold 218,986 shares of Coinbase (COIN) across its ETFs, a sale valued at $90.6 million. The crypto exchange had just posted an all-time high above $437 after the U.S. House passed sweeping legislation establishing a federal framework for stablecoins and digital assets. ETH is currently trading above $3600, according to CoinDesk markets data. Ether is up nearly 44% in the last two weeks.
Yahoo
2 days ago
- Business
- Yahoo
Peter Thiel Just Backed an Ethereum Miner -- and the Stock Took Off
Peter Thiel just threw his weight behind Ethereum again. The billionaire investor and PayPal co-founder has taken a sizable stake in a crypto mining company that's going all-in on Ethereum (ETH-USD), according to a report from Business Insider. While the miner wasn't named in the story, that didn't stop investors from piling in. BMNR stock surged as much as 30% after the disclosure of Thiel's 9.1% stake. Warning! GuruFocus has detected 4 Warning Signs with NVDA. It's a bold move at a time when Ethereum is still figuring out its post-Merge identity. Even with the shift away from proof-of-work, mining adjacent operations especially those optimizing validator infrastructure and Layer-2 activity are drawing attention. For Thiel, it's not a one-off. He's long been a believer in crypto's disruptive potential, backing firms like Bitpanda and Layer1 in the past. This latest investment suggests he sees Ethereum as more than just a tech layer he sees it as core financial infrastructure. The market's reaction? Loud and clear. Investors are paying attention, and so is the rest of the crypto world. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Peter Thiel Just Backed an Ethereum Miner -- and the Stock Took Off
Peter Thiel just threw his weight behind Ethereum again. The billionaire investor and PayPal co-founder has taken a sizable stake in a crypto mining company that's going all-in on Ethereum (ETH-USD), according to a report from Business Insider. While the miner wasn't named in the story, that didn't stop investors from piling in. BMNR stock surged as much as 30% after the disclosure of Thiel's 9.1% stake. Warning! GuruFocus has detected 4 Warning Signs with NVDA. It's a bold move at a time when Ethereum is still figuring out its post-Merge identity. Even with the shift away from proof-of-work, mining adjacent operations especially those optimizing validator infrastructure and Layer-2 activity are drawing attention. For Thiel, it's not a one-off. He's long been a believer in crypto's disruptive potential, backing firms like Bitpanda and Layer1 in the past. This latest investment suggests he sees Ethereum as more than just a tech layer he sees it as core financial infrastructure. The market's reaction? Loud and clear. Investors are paying attention, and so is the rest of the crypto world. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
BitMine's Ethereum Bet Tops $1B as ETH Strategy Accelerates
Bitmine Immersion Technologies (BMNR), the ether (ETH) treasury strategy firm led by Fundstrat's Thomas Lee, has amassed more than $1 billion worth of ETH and linked assets just a week after its private placement round. The firm said in a press release it now holds the equivalent of 300,657 ETH, including 60,000 tokens through in-the-money options backed by $200 million in cash. BMNR was lower by 1.5% in mid-morning U.S. trade, but remains higher by roughly 10-fold since adopting the ETH strategy. Bitmine is pursuing a strategy of accumulating ETH and participating in the Ethereum ecosystem. BitMine's leadership said it ultimately seeks to corner 5% of the total ETH supply; That's worth over $20 billion at ETH's current market capitalization. "We are well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply," chairman Thomas Lee said in a statement.
Yahoo
6 days ago
- Business
- Yahoo
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 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
