24/7 Cryptocurrency News

Peter Thiel-Backed BitMine’s Ethereum Treasury Holdings Surpass $1 Billion

BitMine Immersion Technologies, a company backed by tech billionaire and PayPal co-founder Peter Thiel, has announced that its ETH holdings have surpassed $1 billion. The company’s Ethereum treasury continues to gain momentum, having recently closed on a $250 million private placement.

Advertisement

BitMine’s Ethereum Treasury Hits Milestone

According to a press release, BitMine holds a total of 300,657 ETH, valued at approximately $1 billion based on the current price of $3,461.89 per ETH. This strategic acquisition was made possible by the recent $250 million private placement closed by the company on July 8th.

This comes as the Ethereum price hits a five-month high of around $3,400, thanks to factors such as massive accumulation from whales like BitMine. The release noted that the company aims to continue growing its Ethereum holdings as part of its asset-light treasury strategy, which focuses on using the volatility of the market to lower the cost of capital and increase the value of its holdings.

“Acquiring $1 billion of ETH is a clear signal of our conviction in Ethereum’s long-term value,” said Jonathan Bates, CEO of BitMine. “We are committed to Ethereum’s continued growth and look forward to advancing our Ethereum treasury strategy.”

The company plans to use a combination of reinvested cash flows, staking yields, and capital market activities to increase its ETH holdings further. Billionaire Peter Thiel believes in this strategy as he has acquired a 9.1% stake in the Ethereum treasury company.

Advertisement

GameSquare Also Expands ETH Strategy

In addition to BitMine, GameSquare Holdings is also making moves in the Ethereum market. The company has announced the pricing of its public offering of 46,666,667 shares at $1.50 each, raising about $70 million.

The company will use these funds to increase its Ethereum holdings as part of an ambitious treasury strategy to generate on-chain yields through decentralized finance (DeFi) protocols and Ethereum ecosystem assets.

Justin Kenna, GameSquare CEO, stated that the company aims to develop a treasury strategy that will transform its traditional treasury operations into a high-performance business unit. With the help of Dialectic, the Swiss firm that invests via crypto, GameSquare will utilize its Ethereum assets in a manner that allows it to achieve returns as high as 8-14% on its holdings.

Simultaneously, other corporations are also buying Ethereum, including SharpLink Gaming, which purchased 74,656 ETH between July 7 and 13. Similar to BitMine, these companies are attempting to develop ETH-centered treasury solutions, which they believe will yield significant returns in the long run.

Advertisement

Share
Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Recent Posts

  • 24/7 Cryptocurrency News

XRP ETF Issuers File Major Amendments Even as U.S. Government Shutdown Delays Approval

XRP ETF issuers have filed amendments for their respective registration statements, providing optimism even as…

October 11, 2025
  • 24/7 Cryptocurrency News

Hyperliquid DEX Outperforms Top Crypto Exchanges Coinbase, Binance, Robinhood With Zero Downtime

Today's crypto market crash triggered major congestion at some of the top centralized exchanges like…

October 11, 2025
  • 24/7 Cryptocurrency News

Crypto Market Loses $670 Billion on CEX Auto Liquidations As Altcoins Crash Intensifies

The crypto market has witnessed the biggest single-day crash in history, with more than $19…

October 11, 2025
  • 24/7 Cryptocurrency News

Crypto Market Crash With 100% Trump Tariff Announcement on China

The crypto market is facing further declines following President Donald Trump’s announcement of a 100%…

October 11, 2025
  • 24/7 Cryptocurrency News

ASTER Airdrop Delayed to October 20 Amid Criticisms Over Token Allocations

Following complaints of consistency issues with the ASTER token airdrop, Aster DEX has announced a…

October 11, 2025
  • 24/7 Cryptocurrency News

U.S. Inflation Data: BLS to Release CPI Report on October 24 Amid Government Shutdown

The Bureau of Labor Statistics (BLS) has rescheduled the release of the September Consumer Price…

October 10, 2025