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BitMine Immersion Technologies has announced the appointment of Chi Tsang as chief executive officer and member of the company's board of directors. The NYSE American-listed firm has also appointed three independent board members: Robert Sechan, Olivia Howe and Jason Edgeworth. All appointments are effective immediately.
The Las Vegas-based company is positioning itself as a bridge between traditional capital markets and what it describes as the "supercycle Ethereum ecosystem". BitMine holds Ethereum digital assets.
Thomas "Tom" Lee, chairman of the board BitMine
Thomas "Tom" Lee, chairman of the board, stated:
"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."
Chi Tsang, Chief Executive Officer of BitMine, said:
"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 announcement follows the departure of former chief executive Jonathan Bates, who oversaw the company's growth into what the firm describes as the world's largest holder of Ethereum.
Jonathan Bates, former BitMine Chief Executive Officer
Jonathan Bates, former BitMine chief executive officer, commented:
"Building BitMine from the ground up to become an NYSE listed company, and then the world's largest holder of Ethereum, has been a remarkable journey. I'm proud of what our team has achieved, and I have complete confidence that Tom and BitMine's new leadership will carry that momentum as it continues to grow."
Robert Sechan, Chief Executive Officer NewEdge Wealth
Robert Sechan, independent board member and founder of NewEdge Capital Group and chief executive officer of NewEdge Wealth, said:
"Tom Lee has been at the forefront and capitalised on so many of the key secular stories in the two decades I have known him. From wireless in the early 90s; to creating the leading independent research firm in 2014, just in front of this massive retail stock flows; being the first person on Wall Street to advocate for Bitcoin in 2017; and even to identifying AI as a secular story in 2018. 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."
Olivia Howe, independent board member of BitMine and chief legal officer at RigUp, Inc, stated:
"I've followed BitMine's growth journey from a virtually unknown company to the largest Ethereum DAT in the world. I'm honoured to join the Board at this pivotal moment, working alongside Chairman Tom Lee to help contribute to its continued success."
Jason Edgeworth, independent board member of BitMine, added:
"I'm honoured to join the Board of BitMine and believe in Tom's bold vision to establish BitMine as a critical infrastructure partner in the Ethereum ecosystem. I look forward to working alongside the leadership team and my fellow directors to help drive long-term value for shareholders and position BitMine for continued growth."
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