BitMine appoints new CEO amid Ether buying spree

BitMine held about $11 billion worth of ETH as of this week, making it the largest Ether treasury in the cryptocurrency industry.

BitMine Immersion Technologies has overhauled its leadership as it continues to amass one of the largest Ether treasuries across publicly traded companies.

In a Friday notice, BitMine announced that Chi Tsang would succeed Jonathan Bates as the company’s CEO, effective immediately. The Ether (ETH) treasury company reported holding more than 3.5 million tokens as of Monday, bringing its valuation to more than $11 billion at a price of $3,175. 

“With its substantial Ethereum holdings and credibility with both Wall Street and the Ethereum ecosystem, BitMine is positioned to become a leading financial institution,” said Tsang.

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