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

BitMine (BMNR), the largest corporate holder of Ethereum, has appointed Chi Tsang as its new CEO, succeeding Jonathan Bates. Bates previously led the company through its transition from a bitcoin mining firm to an Ethereum treasury strategy. Under the direction of Chairman Tom Lee, BitMine has accumulated 3.5 million ETH since pivoting to a digital asset treasury strategy in July. In addition to Tsang's appointment, the firm has introduced three new independent board members from traditional finance and legal sectors. Although the firm's stock has faced challenges recently, dropping over 3% premarket amidst a broader crypto market downturn, it aims to expand its ether holdings with a goal of acquiring 5% of the total outstanding supply. This strategic shift aims to position BitMine as a leading player in the crypto treasury market, competing closely with significant players in the space.

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