Peter Thiel-backed entity acquires 9.1% stake in BitMine Immersion

On July 16, according to a document disclosed by The Block, entities associated with Peter Thiel have acquired 9.1% of the shares of Ethereum reserve company BitMine Immersion, and its funds and entities now hold more than 5 million shares of the company. BitMine Immersion, listed on the New York Stock Exchange, recently transformed from a Bitcoin mining company to an Ethereum reserve company and currently holds nearly $500 million worth of ETH. [PANews]