Peter Thiel acquired more than 9% of the shares of the Ethereum fund management company led by Tom Lee.

Venture capital billionaire Peter Thiel has acquired 9.1% of the shares of BitMine Immersion Technologies, a cryptocurrency infrastructure company led by Tom Lee. Thiel, with voting rights over 5,094,000 shares, joins the list of institutional investors paying attention to cryptocurrency companies not only for their mining capabilities but also for their increasing role as large holders of digital assets.

BitMine has become a leading Ethereum treasury management company, with a holdings of over 163,000 ETH, worth approximately 500 million USD. Their strategy is similar to how MicroStrategy has accumulated over 600,000 BTC, reshaping how public companies view cryptocurrency as an asset on their balance sheets. The acquisition took place after Thiel and other tech billionaires established Erebor, a bank serving the technology sectors.