On November 14, the world’s largest Ethereum Treasury firm, BitMine Immersion Technologies, announced new developments in its leadership to redefine its performance moving forward.
According to the announcement shared during the latter hours of Friday, BitMine revealed it has appointed new management, as Chi Tsang takes over as CEO and will also join the Board of Directors.
In addition to the appointment of a new CEO, BitMine revealed it has also appointed three new independent Board Members. As such, Robert Sechan (CEO of NewEdge Wealth), Jason Edgeworth (CIO of JPD Holdings), and Olivia Howe (Chief Legal Officer of RigUp) will step in as the new Board Members of BitMine.
Following this development, the newly appointed leaders are expected to work together to enhance the financial services, capital markets, investment banking, and technology capabilities of BitMine.
BitMine moves to reinforce stance in Ethereum
While BitMine has continued to gain prominence in the crypto ecosystem, especially with its title as the world’s largest Ethereum Treasury, Tom Lee, the chairman of the board, revealed that the move seeks to further establish its foothold in the Ethereum ecosystem.
According to Tom Lee, the new members of the board have been carefully selected to provide a unique blend of experience, insight, and leadership across technology, DeFi, and financial services.
Ultimately, this will help BitMine push further on its goal to hold 5% of Ethereum supply while bridging the gap between the traditional capital markets and the Ethereum ecosystem.
While this development appears to have opened a new era for BitMine, its new CEO, Chi Tsang, has acknowledged that BitMine is set to be a leader in the financial institution sector with its strong Ethereum holdings, and trust from both Wall Street and the crypto community.
Following the new appointment, Jonathan Bates has now stepped down from his position as BitMine’s CEO, handing over to Chi Tsang.
During his years of service, Jonathan Bates has helped take BitMine from an unknown startup to an NYSE-listed company, and eventually to become the world’s largest holder of Ethereum.
Marking a proud moment for Bates, he acknowledged that the journey so far has been remarkable while expressing confidence that BitMine’s new leadership will take over from where he has stopped and keep pushing the company forward.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team