Overview
- Appointments take effect immediately, with Robert Sechan, Olivia Howe and Jason Edgeworth joining the board alongside Tsang.
- BitMine says it controls about 2.9% of the Ethereum network, and independent reports peg its holdings near 3.5 million ETH worth roughly $11.2 billion.
- BMNR shares fell on the day and are down roughly a third over the past month as ether prices declined and U.S. Ethereum ETFs saw about $728 million in weekly outflows.
- The former bitcoin miner pivoted earlier this year to an Ethereum-focused treasury strategy under chairman Tom Lee.
- The company highlights backing from ARK Invest, Founders Fund, Pantera, Kraken, DCG, Galaxy Digital and Bill Miller, and ARK purchased about $2 million of BMNR shares on Nov. 7.