BitMine Immersion Technologies announced that Chi Tsang will become chief executive officer, succeeding Jonathan Bates, with the transition taking effect on November 12, 2025. The announcement was made on November 14, 2025, and the company also added three new independent directors—Robert Sechan, Jason Edgeworth, and Olivia Howe—to its board.
Tsang brings a decade of experience in financial services and technology, having led digital‑asset strategy at several fintech firms. His appointment signals BitMine’s intent to accelerate its Ethereum‑centric treasury strategy, which aims to accumulate 5% of the total ETH supply and position the company as a leading institutional treasury provider in the crypto ecosystem.
The new directors complement the leadership team with deep expertise in investment management, legal affairs, and capital markets. Sechan, founder of NewEdge Capital Group, has a track record of managing institutional portfolios; Edgeworth, an asset manager at JPD Family Holdings, brings experience in structured finance; and Howe, former chief legal officer of RigUp, adds robust legal and regulatory oversight to the board.
The leadership overhaul reflects BitMine’s strategic pivot from a primarily mining‑focused business to a higher‑margin advisory and treasury services model. By leveraging Tsang’s digital‑asset expertise and the directors’ industry knowledge, the company aims to broaden its institutional client base, deepen its Ethereum holdings, and enhance governance as it navigates a volatile crypto market.
Investors have responded cautiously, citing skepticism about the company’s ambitious Ethereum accumulation target and the broader downturn in the digital‑asset treasury sector. The announcement underscores the challenges BitMine faces in balancing aggressive asset accumulation with the need for sustainable profitability amid price corrections in the crypto market.
The company’s board and management emphasize disciplined cost control and strategic investment in high‑return verticals, signaling confidence in maintaining profitability while pursuing its long‑term vision of becoming the world’s largest Ethereum treasury company.
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