Ethereum News Update: BitMine Bets on a Supercycle as Ethereum Faces Its Own 1990s Telecom Era
- BitMine's new CEO Chi Tsang faces a 34% stock decline amid Ethereum's slump. - The firm holds 3.5M ETH ($11.2B) as it aims to accumulate 5% of Ethereum's supply. - Market weakness and ETF outflows drove ETH down 8%, exacerbating BMNR's losses. - Despite volatility, BitMine added 110K ETH weekly, now holding 2.9% of the supply. - The strategy risks heavy exposure to Ethereum's recovery amid Fed uncertainty.
Shares of BitMine Immersion Technologies Inc. (BMNR) declined in tandem with a broader drop in
The leadership change signals a new direction for BitMine, which is targeting ownership of 5% of all Ethereum in circulation. Tsang, who previously worked at HSBC and founded a venture capital fund,
The drop in Ethereum’s value further pressured BMNR’s stock.
Even with the turbulence, BitMine continued to purchase Ethereum during the downturn.
Nonetheless, the company’s treasury approach leaves it vulnerable to market volatility. With BMNR’s shares down 35% since mid-August, its market value is now closely linked to Ethereum’s performance.
BitMine’s aggressive buying has cemented its leadership in the Ethereum treasury space,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP News Today: XRP ETF Launches with $58M, Challenging Skeptics of Blockchain Utility
Finance’s Latest Frontier: Goldman Sachs Commits $1 Billion to Representing Athletes
- Goldman Sachs acquires majority stake in Excel Sports Management for $1B, entering athlete representation and NIL rights management. - The investment expands the bank's role from sports financial advisor to direct ownership, targeting growth in marketing and executive search. - Goldman's private equity arm aligns with global trends of financial firms capitalizing on high-growth sectors like sports and emerging markets. - A potential U.S.-India trade deal is highlighted as a market catalyst, with India's

The COAI Token Fraud: An Urgent Alert for Cryptocurrency Investors
- COAI token's 2025 collapse exposed systemic DeFi vulnerabilities, costing investors billions through regulatory loopholes and weak governance. - Scam operators exploited jurisdictional gaps in Southeast Asia and the U.S., with $10B+ annual losses attributed to AI token fraud and unclear CLARITY Act definitions. - Conflicting U.S. regulatory frameworks (SEC/CFTC) and partial measures in Hong Kong/Singapore highlight fragmented global oversight of crypto markets. - Cross-border enforcement (e.g., $13.4B se

Walmart Relies on In-House Leaders to Steer Through Retail Hurdles
- Walmart appoints John Furner, a 30-year veteran, as CEO in 2026, succeeding retiring Doug McMillion. - Furner, 51, leads U.S. operations with 4,600 stores and $120.9B Q2 revenue, emphasizing internal leadership continuity. - McMillion's 12-year tenure saw 400% stock growth but faces challenges like tariffs and affordability crises. - New CEO inherits AI-driven transformation goals, with Q3 earnings and SNAP benefit disruptions under investor scrutiny.