Tom Lee’s appointment as chairman marks BitMine’s strategic pivot, capitalizing on Ethereum’s 71% surge and aiming to acquire 5% of the total supply to construct the world’s largest treasury.
Ark Invest Daily reports that Tom Lee joined BitMine as chairman on June 30 when ETH was around $2,500. With ETH now at $4,300, a 71% increase, BitMine has shifted its strategy to build the world’s largest Ethereum treasury by targeting 5% of the total ETH supply while maintaining 1.15M ETH valued at approximately $4.96 billion.