Ethereum Latest Updates: BitMine Invests $12.5 Billion in Ethereum, CEO Predicts a Repeat of the 1990s Internet Surge
- BitMine appoints Chi Tsang as CEO and adds three board members to accelerate Ethereum holdings expansion. - The firm increased ETH purchases by 34% last week, holding 3.5M ETH ($12.5B) despite price drops. - Tsang compares Ethereum's growth to the 1990s internet boom, aiming to bridge traditional and crypto markets. - Regulatory compliance and market skepticism follow the leadership change, with BMNR down 4.7% premarket.
BitMine Immersion Technologies, recognized as the largest
This executive shift comes after BitMine significantly ramped up its Ethereum acquisitions. In the previous week, the company
BitMine continues to enjoy strong institutional support, with backers like ARK’s Cathie Wood, Founders Fund, and Galaxy Digital. The company’s long-term strategy is anchored in the concept of Ethereum’s “supercycle,” a theme promoted by Lee, who
Regulatory compliance remains a priority for BitMine, which has confirmed it meets NYSE American requirements—a crucial factor as crypto treasury firms face tighter oversight. Meanwhile, broader market signals are mixed:
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