BitMine Announces New CEO and Independent Board Members

BitMine Appoints Chi Tsang as New CEO, Bolsters Board with Independent Directors

LAS VEGAS, Nov. 14, 2025 – BitMine Immersion Technologies, Inc. (BMNR), a company focused on Ethereum accumulation and mining operations, has announced a leadership shakeup, appointing Chi Tsang as its new Chief Executive Officer and a member of the Board of Directors, effective immediately. The company also unveiled the addition of three independent directors: Robert Sechan, Olivia Howe, and Jason Edgeworth.

These moves signal a potential shift in strategy for BitMine, a company that has rapidly become a significant player in the Ethereum ecosystem. Tsang’s background, coupled with the experience of the newly appointed board members, suggests a renewed focus on bridging traditional finance with the decentralized world.

“Our new CEO and Board members bring a unique blend of experience, insight, and leadership across technology, DeFi and financial services, enabling BitMine to further position itself as the bridge between traditional capital markets and the supercycle Ethereum ecosystem,” said Thomas “Tom” Lee, Chairman of the Board.

Tsang, echoing Lee’s sentiment, stated, “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. With its substantial Ethereum holdings and credibility with both Wall Street and the Ethereum ecosystem, BitMine is positioned to become a leading financial institution.”

The Significance of BitMine’s Ethereum Holdings

BitMine claims to hold more than 2.9% of the entire Ethereum network, making it one of the largest single-entity holders of ETH globally. This substantial stake grants the company significant influence within the Ethereum ecosystem, particularly as the network transitions to Proof-of-Stake (PoS). The company, backed by notable investors like ARK’s Cathie Wood, Founders Fund, and Galaxy Digital, aims to acquire 5% of all ETH, a stated goal referred to internally as the “alchemy of 5%.”

The New Leadership: A Blend of Traditional Finance and Tech Expertise

Chi Tsang’s appointment as CEO marks a strategic move. While specifics of his prior experience were not detailed in the release, the emphasis on his ability to bridge Wall Street and the Ethereum world suggests a background in both finance and technology.

The addition of Robert Sechan, Founder of NewEdge Capital Group and CEO of NewEdge Wealth, brings considerable financial acumen to the board. Sechan’s history of identifying and capitalizing on major technological shifts, from wireless technology in the 90s to AI in 2018, suggests a belief in the long-term potential of Ethereum. “Tom Lee has been at the forefront and capitalized on so many of the key secular stories… So to me, his view that Ethereum is a supercycle is something that resonates with me, and a key reason I am delighted to serve on the Board of BitMine,” Sechan said.

Olivia Howe, Chief Legal Officer at RigUp, adds legal and regulatory expertise, crucial for navigating the evolving landscape of cryptocurrency and decentralized finance. Jason Edgeworth, Asset Manager for JPD Family Holdings, brings investment management experience.

Analysts Weigh In: Strategy Shift or Business as Usual?

The leadership changes at BitMine have sparked debate among analysts. Some see it as a sign that the company is preparing for a more aggressive expansion into decentralized finance, leveraging its significant ETH holdings to build new financial products and services. Others believe it’s simply a matter of bringing in more experienced leadership to manage the company’s growth and navigate the regulatory challenges ahead.

The company is positioning itself as a critical infrastructure partner within the Ethereum ecosystem.

About BitMine

BitMine is a Bitcoin and Ethereum Network Company focused on the accumulation of crypto for long-term investment through Bitcoin mining operations and capital raising transactions. The company’s business lines include Bitcoin Mining, synthetic Bitcoin mining, hashrate as a financial product, and Bitcoin advisory services. Operations are located in low-cost energy regions in Trinidad, Pecos, Texas, and Silverton, Texas.

Forward-Looking Statements

This press release contains forward-looking statements regarding ETH acquisition, staking, the long-term value of Ethereum, and the company’s growth. These statements are subject to risks and uncertainties, including BitMine’s ability to keep pace with technology, finance operations, face competition, and the future value of Bitcoin and Ethereum. Actual results may differ materially from those expressed in forward-looking statements.

BitMine’s filings with the SEC are available at www.sec.gov. The company undertakes no obligation to update these statements, except as required by law.