Peter Thiel cuts his holdings! Liquidated $100 million in Nvidia, BitMine Holdings halving

PayPal co-founder Peter Thiel's Founders Fund has sold half of its stake in BitMine, currently holding 2,547,001 shares. Documents disclosed on November 17 show that Peter Thiel has cleared all of his holdings in NVIDIA, selling approximately 537,742 shares during the period from July to September, for an amount close to 100 million dollars.

Peter Thiel completes BitMine stock reduction

(Source: SEC)

According to documents submitted to the U.S. SEC, Founders Fund, a venture capital firm led by PayPal co-founder Peter Thiel, has sold half of its stake in Bitmine and currently holds 2,547,001 shares in the company. According to U.S. SEC documents, the date for submitting Schedule 13G to the U.S. SEC was November 14, but the reported 2.547 million shares of BitMine stock represent the number of shares held as of September 30, 2025, which implies that prior to September 30, the related entities of the Founders Fund had completed the reduction of their BitMine shares.

According to previous reports, PayPal co-founder Peter Thiel, through his affiliated entities, holds a total of 5,094,000 shares of common stock in BitMine Immersion Technologies, Inc. (stock code: 09175A206), accounting for 9.1% of the company's issued shares. This means that Founders Fund has reduced its holdings from 5.094 million shares to 2.547 million shares, with a reduction of exactly 50%.

An interesting observation points out that after holding for several months, Peter Thiel halved his BMNR position, likely incurring a loss as a result. According to Ethereum's price chart, the price at which he reduced his holdings coincides almost exactly with Ethereum's trading price in July. This timing choice suggests that Peter Thiel may believe that the valuations of cryptocurrency-related stocks are overly correlated with the crypto market itself, and when Ethereum peaked in July, he chose to reduce his BitMine holdings to mitigate risk.

BitMine is a company focused on cryptocurrency mining and immersive cooling technology. When Peter Thiel started building his position in early 2024, Bitcoin was at the beginning of a bull market, and the market was optimistic about crypto infrastructure stocks. However, as the crypto market became more volatile and regulatory uncertainty increased, Peter Thiel chose to lock in some profits or cut losses. This reduction strategy shows that even staunch crypto supporters remain cautious when the market is overheated.

Completely liquidate all holdings in NVIDIA, valued at nearly 100 million USD

(Source: SEC 13F)

More strikingly, Peter Thiel has completely divested from Nvidia. On November 17, billionaire Peter Thiel has emptied his entire stake in the AI giant Nvidia, with related documents disclosed over the weekend. Currently, as technology valuations are pushed up due to the AI boom, concerns about a bubble are intensifying. Documents show that Peter Thiel sold approximately 537,742 shares of Nvidia between July and September, and the 13F form submitted by his fund Thiel Macro indicates that as of September 30, he no longer holds any Nvidia shares.

According to foreign media estimates based on NVIDIA's average stock price from July to September, the sale of these shares amounted to nearly $100 million. This is an astonishing figure that indicates Peter Thiel is not making a small adjustment to his positions, but is completely exiting a stock seen as the biggest beneficiary of the AI revolution. Recently, NVIDIA's market value surpassed $5 trillion, yet Thiel Macro LLC, under Peter Thiel, chose to completely sell off its holdings. Last season, NVIDIA was still the second-largest holding of Thiel Macro, second only to Tesla.

The specific reasons for Peter Thiel selling his NVIDIA shares are not clear, but he has long been hailed as an angel of Silicon Valley and the “godfather of venture capital,” a thinker in the investment world. He has warned that the hype around artificial intelligence far exceeds its actual economic benefits, and his adjustments to his investment portfolio in the third quarter align with this view, which can be said to be a case of theory and practice being in harmony. When the market's enthusiasm for AI reached a fever pitch, Peter Thiel chose to take the opposite approach, a investment philosophy consistent with his past successful experiences.

It is worth noting that, according to previous announcements, Bridgewater Associates also significantly reduced its holdings in NVIDIA in the third quarter. This indicates that top investors are becoming cautious about the valuations of AI stocks. When two legendary investors simultaneously reduce their stakes in industry leaders, it could be an important signal that the market is overheating.

Major adjustment in investment portfolio reduces US stock positions by 2/3

Peter Thiel's portfolio adjustments are not limited to liquidating NVIDIA. He also significantly reduced his stake in Tesla from 272,613 shares to 65,000 shares, a decrease of 76%. Meanwhile, he purchased 79,181 shares of Apple and 49,000 shares of Microsoft. This strategy of shifting from high-valued growth stocks to relatively stable tech giants indicates that Peter Thiel's concerns about market risks are rising.

Thiel Macro had approximately $212 million in U.S. stock assets in the second quarter, primarily distributed among Tesla, NVIDIA, and VISTRA. The latest report disclosed that in the third quarter, the long positions in U.S. stocks had reduced to only $74.4 million, which is only one-third of the original amount. Currently, Thiel Macro's holdings are concentrated in three tech stocks: Microsoft, Tesla, and Apple.

Peter Thiel Third Season Investment Portfolio Changes

NVIDIA: Completely liquidated the second largest position, selling approximately 537,742 shares.

Tesla: reduced from 272,613 shares to 65,000 shares, a decrease of 76%

Apple: Added purchase of 79,181 shares

Microsoft: Newly purchased 49,000 shares

Overall U.S. Stock Position: Dropped from 212 million USD to 74.4 million USD

This kind of drastic portfolio adjustment is extremely rare. The drop from $212 million to $74.4 million suggests that Peter Thiel is not only reducing his holdings in specific stocks but also significantly lowering his overall exposure to the U.S. stock market. This may imply that he anticipates a major adjustment in the market or that he is reallocating funds to other asset classes such as private equity, cryptocurrencies, or cash.

AI Bubble Warning and the Unity of Knowledge and Action in Investment Philosophy

Peter Thiel has publicly warned that the hype surrounding artificial intelligence far exceeds its actual economic benefits. This viewpoint stands out amidst the current AI frenzy. While the entire Silicon Valley and Wall Street are betting that AI will change the world, Peter Thiel remains calm, questioning whether this fervor is rational.

His investment actions fully align with this perspective. Selling off NVIDIA, reducing holdings in BitMine, and significantly lowering his positions in U.S. stocks all indicate that he believes the valuations of AI-related assets have diverged from their fundamentals. As a co-founder of PayPal and Palantir, Peter Thiel is no stranger to technological innovation, making his caution all the more persuasive.

Peter Thiel's investment philosophy has always emphasized a “contrarian” mindset. In his book “Zero to One,” he mentions that true innovation and investment opportunities often exist in areas that the masses overlook or question. When everyone was bullish on AI, he chose to step back; when Bitcoin was mocked by mainstream finance, he was an early supporter. This contrarian thinking is the key to his success.

However, some analyses suggest that Peter Thiel's reduction in holdings may be overly cautious. The AI revolution has only just begun, and NVIDIA's performance continues to exceed expectations, with potentially huge growth opportunities in the coming years. However, for Peter Thiel, who has already realized billions of dollars in wealth, protecting capital is more important than pursuing extreme returns.