Overview
- BitMine appointed Chi Tsang as CEO and board member, succeeding Jonathan Bates, and named Robert Sechan, Olivia Howe and Jason Edgeworth as independent directors.
- The company reports holding more than 3.5 million ETH worth about $11.2 billion, which coverage describes as the largest corporate ether position.
- Shares of BMNR fell roughly 4% on Friday and are down about one-third over the past month as declining crypto prices weigh on the firm's treasury value.
- BitMine reiterates a long‑term goal to own 5% of circulating ETH, positioning itself as a Wall Street‑aligned financial institution for the Ethereum ecosystem.
- The firm, chaired by Tom Lee after a pivot earlier this year from bitcoin mining to an Ethereum treasury strategy, cites backing from ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG and Galaxy Digital.