BitMine Immersion Technologies has appointed Chi Tsang as its new CEO and added three independent board members to strengthen leadership amid its significant Ethereum holdings. The company now holds over 3.5 million ETH, valued at approximately $12.4 billion, positioning it as the largest corporate Ethereum holder.
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BitMine Immersion Technologies announces Chi Tsang as new CEO, replacing Jonathan Bates, effective immediately.
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The appointment aims to guide the company’s growth in the Ethereum ecosystem during market volatility.
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BitMine’s holdings represent 2.9% of Ethereum’s total supply, with a current valuation of around $12.4 billion based on recent market data.
Discover how BitMine’s new CEO Chi Tsang and board additions bolster its Ethereum strategy. As the top corporate ETH holder, explore leadership changes and market impact. Stay informed on crypto developments today.
What is BitMine’s new CEO appointment and its implications for Ethereum holdings?
BitMine appoints new CEO Chi Tsang, a seasoned financial expert, to lead the company as it navigates the evolving blockchain landscape. This move replaces Jonathan Bates and includes three new independent board members, enhancing expertise in technology and finance. With over 3.5 million ETH in reserves, BitMine solidifies its position as the premier corporate holder of the asset.
How does the new leadership at BitMine impact its role in the Ethereum market?
The addition of Chi Tsang as CEO brings extensive experience from founding m1720 venture fund and a decade at HSBC, where he served as Head of Asia and TMT Global Banking. This expertise is crucial for BitMine, which holds 2.9% of Ethereum’s total supply—approximately 3.5 million ETH valued at $12.4 billion. According to company statements, Tsang views blockchain’s transformation akin to the 1990s internet boom in telecoms.
Tsang emphasized, “The transformation and innovation now facing Wall Street through blockchain and Ethereum mirror the explosion of opportunity that mobile phones and the internet unleashed on telecoms and technology in the 1990s.” He highlighted the company’s substantial holdings as a foundation for credibility in becoming a major financial institution.
The three new board members—Robert Sechan, founder of NewEdge Capital Group; Olivia Howe, Chief Legal Officer at RigUp; and Jason Edgeworth, asset manager for JPD Family Holdings—add depth in DeFi, legal, and asset management. Chairman Tom Lee noted their combined skills will bridge traditional markets with Ethereum’s growth. Data from Ethereum’s network metrics shows corporate adoption rising, with BitMine leading at 2.9% ownership, far surpassing peers like other institutional holders reported by on-chain analytics firms.
The company holds 2.9% of Ethereum’s total supply. This is about more than 3.5 million ETH, valued at around $12.4 billion
Key Highlights
- BitMine hired Chi Tsang as its new CEO and added three new independent board members.
- The company now holds over 3.5 million ETH, making it the largest corporate Ethereum holder.
- BitMine’s stock has fallen recently as Ethereum and the wider crypto market continue to drop.
BitMine Immersion Technologies announced on Friday that it has appointed Chi Tsang as its new CEO and board member, replacing former CEO Jonathan Bates, with the move taking effect immediately.
The update was shared in Las Vegas, where the company said the updated leadership will help guide its plans during a period of heavy activity in the Ethereum market.
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BitMine is pleased to announce management and Board appointments:
– new CEO, Chi Tsang
3 independent board members:
– Rob Sechan , CEO of NewEdgeWealth
– Jason Edgeworth, CIO of JPD Holdings
– Olivia Howe, Chief Legal Officer of RigUp
Together, these additions…
— Bitmine (NYSE-BMNR) $ETH (@BitMNR) November 14, 2025
Strong experience behind the team
Tsang previously founded the venture fund m1720 and spent a decade working at HSBC, where he ended his time as Head of Asia and TMT Global Banking.
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“The transformation and innovation now facing Wall Street through blockchain and Ethereum mirror the explosion of opportunity that mobile phones and the internet unleashed on telecoms and technology in the 1990s,” Tsang said in the statement announcing his appointment. He added that the company’s large holdings give it the credibility needed to grow into a major financial institution in the future.
New board members join in
BitMine also added three new independent board members. Robert Sechan, the founder of NewEdge Capital Group, joined as a director. Olivia Howe, the Chief Legal Officer at RigUp, came on board. Jason Edgeworth, an asset manager for JPD Family Holdings, was added as well.
Chairman Tom Lee said their combined experience in technology, DeFi, and financial services will help BitMine connect traditional markets with the fast-growing Ethereum space.
A company with big plans
Former CEO Jonathan Bates said he is proud of the progress the company has made. He said it was a major journey to build BitMine into a public company and then into the world’s largest holder of Ethereum.
New board member Robert Sechan said he has known Tom Lee for many years and respects his ability to spot big trends early. Olivia Howe said she has watched the company rise from being a little-known name to the biggest Ethereum DAT and is excited to help it grow further. Jason Edgeworth said he believes in Tom Lee’s plan to make BitMine an important part of the Ethereum system.
BitMine now holds more than 3.5 million ETH, valued at roughly $12.4 billion, representing 2.9% of Ethereum’s total supply. This makes the company the largest corporate holder of Ethereum by a wide margin.
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Frequently Asked Questions
Who is BitMine’s new CEO and what is his background?
Chi Tsang is BitMine’s newly appointed CEO, effective immediately. He founded the venture fund m1720 and spent over a decade at HSBC, culminating as Head of Asia and TMT Global Banking. His expertise in fintech positions him to lead BitMine’s Ethereum-focused initiatives effectively.
What makes BitMine the largest corporate holder of Ethereum?
BitMine holds more than 3.5 million ETH, equating to 2.9% of Ethereum’s total supply and valued at about $12.4 billion. This substantial stake, accumulated through strategic acquisitions, surpasses other corporations as per on-chain data from blockchain analytics platforms like Glassnode.
Key Takeaways
- New Leadership at BitMine: Chi Tsang’s appointment as CEO, alongside three independent board members, brings proven expertise in finance, DeFi, and legal matters to drive innovation.
- Ethereum Holdings Strength: With 3.5 million ETH representing 2.9% of total supply, BitMine leads corporate adoption, valued at $12.4 billion amid market fluctuations.
- Strategic Growth: The changes aim to integrate traditional finance with Ethereum’s ecosystem; investors should monitor stock performance and ETH market trends for opportunities.
Conclusion
BitMine’s appointment of new CEO Chi Tsang and the addition of key board members mark a pivotal shift, reinforcing its dominance as the largest corporate Ethereum holder with 3.5 million ETH. This leadership evolution, drawn from authoritative backgrounds in global banking and venture capital, positions the company to capitalize on blockchain’s ongoing transformation. As Ethereum continues to influence decentralized finance, BitMine’s strategic moves offer a compelling case for sustained growth in the crypto sector—watch for upcoming developments to see how these changes unfold.
