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Ethereum Treasury News: BitMine (BMNR) Appoints Chi Tsang as CEO

BitMine (BMNR), the largest corporate holder of ether, has appointed Chi Tsang as its new CEO, replacing Jonathan Bates. Bates led the company through its early days and listing on the NYSE American. Under his leadership, the firm transitioned from bitcoin mining to an Ethereum-focused digital asset treasury strategy earlier this year, accumulating 3.5 million ETH. Alongside Tsang's appointment, three new independent board members have been introduced to bolster the company's expertise in traditional finance and asset management. Despite its significant holdings, BitMine's stock has faced challenges amidst a broader crypto market decline, with ETH down nearly 6% year-to-date. The company's goal is to capture 5% of ether's total supply, aiming to expand from its current 2.9%.

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