Billionaire Investor Peter Thiel Acquires 9.1% Stake in Bitmain, Supporting ETH Financial Strategy

Prominent entrepreneur and investor Peter Thiel has acquired 9.1% of the shares in the NYSE American-listed company 'Bitmain Immersion Technologies' (hereafter referred to as Bitmain), as revealed in a document (Sc 13G) filed with the U.S. Securities and Exchange Commission (SEC) on July 15.

According to the Sc 13G filing, Thiel's venture capital firm 'Founders Fund' holds approximately 5,094,000 shares (valued at about $228 million or 33.9 billion yen at the time of writing) through several related companies. Founders Fund has been investing in cryptocurrencies since 2014, but in 2022...