Cathie Wood and Peter Thiel are buying Bitmine, which drives up the price of Ether

Following up to the trend of companies that primarily buy Bitcoin, there’s now Bitmine, a new American company that’s been publicly traded for a few months which actively buys Ether. It’s led by Tom Lee, the man we know from Fundstrat. Several well-known American investors are very enthusiastic about Tom Lee and Bitmine’s plan and are investing millions of dollars.

Palantir

We’re all familiar with companies like Strategy (formerly Microstrategy), Mara Holdings, and Riot Platforms, all of which hold significant amounts of bitcoin. They acquired it through purchases or by mining for digital currencies.

Tom Lee's Bitmine $BMNR now owns 1,792,690 Ethereum $ETH up from 1.71M ETH on August 24th pic.twitter.com/iCt4MWcRUK

— Tom Lee Tracker (@TomLeeTracker) August 28, 2025

But recently, a company has also started buying Ether in large quantities. Peter Thiel (known from Facebook (now Meta) and Palantir) and Cathie Wood (CEO of Ark Invest) are just a few fans of this new company called Bitmine.

Bitmine already owns around 200 Bitcoin and a whopping 1.7 million Ether. Analysts claim that buying such large quantities of Ether influences the price directly.

It’s also notable that Bitmine’s share price has already risen by more than 500% this year.

Thanks to the new crypto legislation in the United States and the success of the Circle IPO a few months ago, there’s a lot of enthusiasm for new crypto companies on the American stock exchanges.