Related News

5 benefits of applying magnesium oil to the feet every night

Applying magnesium oil to feet before sleeping, can result in enhanced sleep quality, and a more restful night. The application of magnesium allows it to control melatonin hormone functions, which

7 most mysterious places on Earth that travellers can never visit

In 1940, some teenagers stumbled upon the entrance of this cave, and they discovered a mysterious cave that is covered in hundreds of Paleolithic drawings. These drawings are made of

TSMC’s second-quarter profit soars nearly 61% as AI chip demand stays strong

A motorcycle is seen near a building of the Taiwan Semiconductor Manufacturing Company (TSMC), which is a Taiwanese multinational semiconductor contract manufacturing and design company, in Hsinchu, Taiwan, on April

More than 10 signs of zinc deficiency women often miss

Believe it or not, zinc helps build bones and keep joints strong. It’s involved in collagen synthesis and bone development, especially important for women. If you’re feeling creaky, achy, or

Shubhanshu Shukla’s emotional reunion with family melts millions of hearts online | Watch first pictures |

After completing a historic 18-day mission aboard the International Space Station (ISS), Indian astronaut Group Captain Shubhanshu Shukla has returned to Earth and to his family’s warm embrace. Shukla, who

Peter Thiel just bought a big stake in the Tom Lee’s ether company and the shares are surging

Word Count: 308 | Estimated Reading Time: 2 minutes

Peter Thiel, president and founder of Clarium Capital Management LLC, holds hundred dollars bills as he speaks during the Bitcoin 2022 conference in Miami, Florida, U.S., on Thursday, April 7, 2022.

Eva Marie Uzcategui | Bloomberg | Getty Images

Shares of the ether treasury company Bitmine Immersion Technologies surged Wednesday after tech billionaire Peter Thiel disclosed a 9% stake in the firm through his venture capital firm Founders Fund.

The stock was last higher by 12% but rallied as much as 20% at one point. Companies with a similar focus rose in tandem, though they were also off their highs. SharpLink Gaming, which has also initiated an ETH treasury strategy and whose board is chaired by Ethereum cofounder Joe Lubin, was up 10%. Bit Digital, which last month exited bitcoin mining to focus on its ETH treasury and staking plans, gained 7%.

Bitmine, a bitcoin mining company, recently initiated a buying strategy around ether and appointed market strategist Tom Lee of Fundstrat as chairman of its board to help make it the MicroStrategy of ether.

The current wave of interest in Ethereum and related assets follows an announcement by Robinhood that it will enable trading of tokenized U.S. stocks and ETFs across Europe, after a groundswell of interest in stablecoins throughout June following Circle’s IPO and renewed optimism that the Senate’s proposed stablecoin bill, the GENIUS Act, could advance through the House this week.

The price of ether itself also continued its rally, up more than 4% Wednesday. The coin has doubled in price in the past three months.

Thiel is a venture capitalist and hedge fund manager best known as a cofounder of both PayPal and Palantir and an early investor in Facebook. Founders Fund was an investor in Tagomi, the crypto brokerage acquired by Coinbase in 2020, and Polymarket, the prediction market built on Ethereum.