Thiel, ARK-backed BitMine Ethereum treasury company commences BMNR options trading on NYSE

The Block

2025-07-23 23:20:58

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BitMine Immersion (ticker BMNR), the Ethereum treasury and crypto mining company linked to Peter Thiel, has commenced options trading for its common stock on the New York Stock Exchange. The firm also disclosed a plan to acquire 5% of the total ETH supply.

"Options trading on the NYSE is a major milestone for BitMine, giving investors more ways to participate in our continued growth," BitMine Chair Thomas Lee said in a statement. "It reflects growing confidence in our vision and supports our ambitious goal of acquiring 5% of the global ETH supply and becoming one of the largest institutional holders of Ethereum in the world."

The firm’s stock has seen a notable increase since BitMine announced its pivot to ETH accumulation and uplisting to NYSE American in June. The stock had risen over 800% to trade at a high near $135 at the beginning of the month, according to CNBC. BMNR is down about 1% on the day to trade around $39.72 at press time.

BitMine signed a private placement agreement to raise $250 million in late June, redirecting its balance-sheet play from bitcoin to ETH. According to a July 15 filing, Founders Fund, the venture firm connected to billionaire investor Peter Thiel, acquired a 9.1% stake in BitMine, making it the firm’s largest shareholder.

On Wednesday, Cathie Wood’s ARK Invest acquired 4,773,444 shares of BitMine common stock worth $182 million, which will be 100% invested to acquire ETH.

The company reportedly held over $1 billion worth of ETH as of July 17. The firm previously focused on proprietary bitcoin mining and hosting services. BitMine is one of the largest corporate holders of ETH in a list that also includes the Joe Lubin-backed SharpLink (SBET) and Andrew Keys-backed Ether Machine (ETHM), which was announced this week.

ETH is trading around $3,607 at press time, down about 2% on the day but up over 160% since recent lows set in April, according to The Block's data page. Since May, ETFs and corporate treasuries have purchased about 2.83 million ETH — 32 times more than amount of tokens created during the same period, according to Bitwise.

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