Bitmine Immersion Technologies recently launched an ether buying strategy and named Fundstrat's Tom Lee chairman.

Bitmine Immersion Technologies Inc (BMNR) opened nearly 20% up on Wednesday after Peter Thiel revealed a 9.1% stake in the Ether treasury company. The billionaire investor has built a sizable stake in the Tom Lee-chaired business at a time when ETH-linked assets are rallying hard on optimism tied to the Senate’s recent approval of the “GENIUS

Shares of the crypto miner have surged in recent weeks on the company's plan to start amassing ether in its corporate treasury.