Bitmine shares soar as billionaire Thiel reveals 9.1% stake

FILE PHOTO: Peter Thiel attends the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 6, 2022. REUTERS/Brendan McDermid/File Photo

(Reuters) -Bitmine Immersion Technologies shares jumped nearly 15% in early trading on Wednesday after tech billionaire Peter Thiel disclosed a 9.1% stake in the crypto mining and services company.

Thiel has publicly praised bitcoin, a currency based on blockchain technology, and his Silicon Valley venture capital firm Founders Fund was among the early investors in the digital currency.