BitMine Immersion Technologies, holding over $11 billion in Ethereum, named Chi Tsang as CEO, succeeding Jonathan Bates. Tsang brings experience from m1720 and HSBC, aiming to position BitMine as a financial leader. The firm also added Robert Sechan, Olivia Howe, and Jason Edgeworth to the board. Shares of BMNR are down 4% amid falling crypto prices.
As of Monday, BitMine holds over 3.5 million ETH, valued at $11.2 billion, making it the largest corporate holder of Ethereum. Ethereum’s price has dropped 5.5% in the last day to $3,200, down 35% from its all-time high. Myriad users give a nearly 53% chance of ETH rising to $4,000 next.
Users on Myriad predict a 77% chance of ETH rising to $4,000 earlier this week.

Read more at Yahoo Finance: Tom Lee’s $11 Billion Ethereum Treasury Firm BitMine Appoints New CEO