BitMine Immersion (BMNR), a crypto mining and Ethereum treasury firm backed by Peter Thiel and ARK Invest, has launched options trading on the New York Stock Exchange (NYSE) as it pursues an ambitious plan to acquire 5% of the total Ethereum (ETH) supply.
BitMine’s Institutional ETH Play Gains Momentum
The firm, which recently pivoted from bitcoin mining to Ethereum accumulation, is emerging as one of the largest corporate ETH holders globally. BitMine has already amassed over $1 billion worth of ETH and aims to become a key institutional force in Ethereum’s financial ecosystem.
“We want to become one of the largest institutional holders of Ethereum in the world,” said BitMine Chairman Thomas Lee.
Options Trading Goes Live as Stock Volatility Soars
BitMine’s stock (BMNR) has seen wild price action following its NYSE American uplisting in June. After soaring over 800% to nearly $135, the stock has since cooled, trading around $39.72 at the time of writing. The launch of options trading on BMNR provides investors with more flexibility and reflects increased institutional confidence.
Major Backing from Thiel’s Founders Fund and ARK Invest
BitMine’s rise is being fueled by major players:
- Founders Fund, linked to Peter Thiel, disclosed a 9.1% stake, becoming the largest shareholder.
- ARK Invest, led by Cathie Wood, acquired 4.77 million BMNR shares worth $182 million on Wednesday, fully dedicated to ETH acquisition.
BitMine raised $250 million in June via private placement to support its ETH strategy.
ETH Supply Squeeze Looms as Treasuries Load Up
BitMine’s move comes amid a record ETH accumulation trend. Since May, ETFs and corporate treasuries have bought 2.83 million ETH, 32x more than tokens created in the same period, according to Bitwise.
ETH is currently trading near $3,607, up 160% since April lows despite a minor 2% dip today. BitMine joins other ETH-centric corporate treasuries like SharpLink (SBET) and Ether Machine (ETHM) in leading this supply squeeze narrative.
Conclusion
With options trading now active and institutional capital pouring in, BitMine’s Ethereum-first strategy could reshape crypto treasury models. The push to acquire 5% of ETH supply positions BMNR as a long-term force — and potentially a catalyst for upward pressure on Ethereum’s price amid shrinking liquid supply.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.