BitMine Immersion has appointed Chi Tsang as its new chief executive officer, replacing Jonathan Bates. The company also added three new independent members to its board of directors, according to an official statement.
The company holds 3.5 million Ethereum after shifting to a digital asset strategy in July. Under Chairman Tom Lee’s leadership, BitMine aims to accumulate 5% of ether’s total supply. It currently holds 2.9%.
BMNR shares fell 3.4% in premarket trading alongside broader cryptocurrency declines. ETH price dropped 8.9% over 24 hours and nearly 6% year-to-date.
Source: BitMine Immersion statement
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