In a twist that could only be penned by the hand of fate-or perhaps a particularly mischievous cat-tech billionaire Peter Thiel has decided to dip his toes into the shimmering waters of ETHZilla, acquiring a 7.5% stake in this curious company, formerly known as 180 Life Sciences. One can only wonder if he was lured by the siren call of Ethereum or simply by the promise of a good laugh. 😂
- Thiel and his merry band of investors have snatched up a 7.5% stake in ETHZilla, a name that sounds like it should be a character in a children’s book.
- In a display of financial acrobatics, ETHZilla’s stock skyrocketed by a staggering 207%, closing at $10.24, up from a mere $3.34. Talk about a rollercoaster ride! 🎢
- This latest escapade follows Thiel’s recent acquisition of a 9.1% stake in BitMine Immersion Technologies, because why not collect stakes like Pokémon cards?
Ah, Peter Thiel, the co-founder of PayPal and Palantir, has once again graced us with his investment prowess. This time, he’s thrown his lot in with ETHZilla, a company that has traded its lab coats for Ethereum wallets. According to a recent SEC filing-because who doesn’t love a good bureaucratic document?-Thiel and his entourage have acquired a 7.5% stake in ETHZilla, which currently holds a treasure trove of 82,186 ETH, valued at a jaw-dropping $349 million. And let’s not forget the additional $238 million in cash equivalents, because who doesn’t like a little extra pocket change? 💰
With plans to hold onto this Ethereum like a dragon hoarding gold, ETHZilla intends to stake it through Electric Capital’s proprietary network strategies. One can only imagine the yield they hope to generate for shareholders-perhaps enough to buy a small island or at least a very fancy yacht. 🛥️
Following the news of Thiel’s investment, the company’s stock surged like a caffeinated squirrel, closing at $10.24 compared to Monday’s sleepy $3.34, as initially reported by Yahoo! Finance. Who knew finance could be so thrilling? 📈
Thiel Doubles Down on Ethereum: A Tale of Two Investments
The stake in ETHZilla marks Thiel’s second foray into the whimsical world of crypto in recent weeks. In mid-July, he acquired a 9.1% stake in BitMine Immersion Technologies, a company that initially dabbled in Bitcoin mining but has since decided that Ethereum is the new black. Fashionable, isn’t it?
BitMine, now under the watchful eye of Fundstrat founder Tom Lee, has more than doubled its ETH holdings from a $250 million private placement just days before Thiel’s investment. It seems that in the world of crypto, timing is everything-much like a well-timed punchline! 🎤
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2025-08-13 13:55