The post BitMine Appoints Chi Tsang as CEO Amid Leadership Reshuffle appeared com. Key Points: BitMine appoints Chi Tsang as CEO amid leadership changes, focusing on Ethereum growth. Jonathan Bates steps down; Tsang to drive ETH supply target. Market reacts to BitMine’s goal of holding 5% of Ethereum. BitMine Immersion Technologies appointed Chi Tsang as CEO, alongside three new board directors on November 14, marking a significant leadership shift for the Ethereum-focused firm. The leadership change aims to strengthen BitMine’s Ethereum strategy, striving to hold 5% of ETH’s supply, impacting both traditional markets and crypto community perceptions. BitMine’s Leadership Overhaul Targets 5% Ethereum Holdings BitMine began its leadership changes with Chi Tsang’s appointment as CEO, which follows Jonathan Bates’ role as the previous CEO. The organization’s intent is to increase its standing in the Ethereum finance landscape. A significant change involves BitMine’s strategy to continue growing its Ethereum holdings. This move positions BitMine as a major player aiming to hold 5% of the Ethereum supply, placing it alongside other institutional treasuries. “The new members of the board have been carefully selected to provide a unique blend of experience, insight, and leadership across technology, DeFi, and financial services. to help BitMine push further on its goal to hold 5% of Ethereum supply while bridging the gap between the traditional capital markets and the Ethereum ecosystem.” Tom Lee, Chairman, BitMine Ethereum’s Market Position Under Scrutiny Amid BitMine’s Strategy Did you know? BitMine’s strategy to hold 5% of Ethereum’s supply positions it alongside major institutional treasuries, highlighting a significant trend among public firms to accumulate substantial digital assets. This reflects growing institutional interest in Ethereum. Ethereum’s price is currently at $3,174. 65, with a market cap of $383. 17 billion, dominating 11. 84% of the market as per CoinMarketCap. Over the past 24 hours,.