Good investments are hard to find in the world of digital currencies. However, two major investors are now putting millions into a small crypto company.
Interest in blockchain money such as Bitcoin, Ethereum, Ripple, and others is on the rise again. However, it is not clear which direction cryptocurrencies will take.
Palantir and libertarian
Some projects turn out to be flops. Others prosper because someone supports or promotes them.
But many crypto fans look to major investors for guidance, because they certainly don’t want to waste large sums of money.
One of these investors is billionaire Peter Thiel, who is known for investing in the Bullish crypto exchange or directly in Bitcoin and Ethereum.
The founder and CEO of data services provider Palantir and libertarian is currently still involved with a certain crypto company.
JP Morgan veteran as CEO
We are talking about Bitmine Immersion Technologies, a US company that primarily mines Bitcoin and other cryptocurrencies and also offers devices and hosting to external parties.
Most recently, the company, led by crypto fan and JP Morgan veteran Thomas Lee, focused on mining and holding Ethereum.
With the emerging hype around altcoins, the provider also saw an upturn. Applications in the Ethereum ecosystem are multiplying exponentially.
The market capitalization is already around $3.5 billion.
No profit on the bottom line
Thiel recently bought 5 million shares in the crypto company, giving him a 9.1 percent stake. With such a star investor on board, the upward trend continued.
Within six months, the company’s shares had gained around 160 percent, even though Bitmine Immersion Technologies is not yet profitable.
Such developments may seem familiar from the days of the New Economy.
Cult investor with Ark Invest
Another well-known investor also jumped on the bandwagon with the company.
Famous crypto woman Cathie Wood, who is involved with the crypto exchange Coinbase, invested around 4.4 million shares in Bitmine Immersion Technologies through her investment vehicle Ark Invest, which was worth approximately $174 million.
The almost 70-year-old cult investor Wood is also a supporter of Bitcoin, which she estimates will reach a price of $1.5 million per coin in 2030.
Transparent blockchains
It is difficult to say whether high demand for the fixed supply of Bitcoin is causing the price to skyrocket in this way.
But in the crypto world, it helps a lot to look at what the “whales” are doing.
Everything is transparent on blockchains anyway.
05.08.2025/kut./ena.
