Shares of Bitmine Immersion Technologies (BMNR) surged in premarket trading after Peter Thiel disclosed a 9.1% stake in the crypto mining company. Thiel, known for his support of bitcoin, revealed his stake in a SEC filing. The stock rose 20.5% to $48.12 on heavy volume. In early June, BMNR announced a $250 million private placement for an ethereum treasury strategy and added Thomas Lee from Fundstrat Global Advisors to its board. The firm, valued at $2 billion, specializes in bitcoin mining and hosting services for digital asset mining equipment.

Read more at Yahoo Finance: Bitmine Immersion jumps after Palantir co-founder Peter Thiel’s stake reveal