Bitmine Immersion Technologies (BMNR.A) is on fire, and billionaire Peter Thiel just poured gasoline on the flame.

Shares of the crypto mining firm skyrocketed nearly 15% in early trading on July 16, 2025, after Thiel, co-founder of Palantir and early Bitcoin evangelist, disclosed a 9.1% ownership stake in the company. The regulatory filing that revealed his involvement dropped after the markets closed on Tuesday, and investors wasted no time reacting.

Peter Thiel isn’t your average investor. He’s a Silicon Valley legend with a track record of spotting emerging trends before they become obvious, like PayPal, Facebook, and yes, Bitcoin. His venture capital firm, Founders Fund, was among the earliest institutional backers of the digital currency.

With his new 9.1% stake, Thiel has officially become Bitmine’s largest known shareholder, a massive vote of confidence in both the company and the broader Ethereum-focused strategy it’s pursuing.

For retail and institutional investors alike, Thiel’s move is more than just headline fodder. It signals growing mainstream interest in crypto mining firms, especially those with Ethereum exposure.

Bitmine stock was last seen trading at $46.07, up more than 5x year-to-date, a jaw-dropping return that dwarfs even Bitcoin’s 27% gain in the same period. For a firm with a modest $2 billion market cap, Bitmine is punching well above its weight.

It’s not alone, though. Other small-cap firms like SharpLink (SBET.O), Bit Digital (BTBT.O), and BTCS (BTCS.O) have also been snapping up crypto assets for their treasuries, mimicking MicroStrategy’s now-iconic Bitcoin playbook.

But what sets Bitmine apart is its dual exposure to both Bitcoin and Ethereum, and now, a billionaire backer with serious tech clout.

Should you jump in?

That depends on your risk appetite. Crypto mining stocks like BMNR are volatile by nature, but they also offer leveraged exposure to crypto markets. If Ethereum continues its upward trajectory and Thiel’s stake attracts more institutional eyes, Bitmine could keep climbing.

However, as always, do your research. While the upside is alluring, crypto assets are still speculative, and mining profitability can swing wildly based on energy prices, network difficulty, and regulatory risk.