Chi Tsang
Chi Tsang is a finance and technology executive who was appointed Chief Executive Officer and a member of the board of directors for BitMine Immersion Technologies, Inc. on November 14, 2025. [1] [2] He is known for a career of over 20 years that spans both traditional global banking, with roles at HSBC and Lehman Brothers, and venture capital, as the founder of the fund m1720. [2] [4]
Education
Tsang is a graduate of Cornell University and the Fordham Graduate School of Business. In addition to his work in finance, he is an educator, teaching venture capital to MBA and Masters of Finance students at the Fordham Graduate School of Business. He also teaches on the online learning platform Udemy, where he offers a course titled "How to Unlock the Mystery of Venture Capital in 10 Lessons." He is a CFA Charterholder. [4] [6]
Career
BitMine Immersion Technologies
On November 14, 2025, BitMine Immersion Technologies (NYSE: BMNR) announced that Chi Tsang would become its new Chief Executive Officer, an appointment that also included a position on the company’s board of directors. [3] [1] He succeeded the former CEO, Jonathan Bates, who had held the position since May 2022. [1]
The appointment was part of a broader leadership expansion orchestrated under BitMine's Chairman, financial strategist Tom Lee. Concurrent with Tsang's appointment, the company also added three new independent directors to its board: Robert Sechan, Olivia Howe, and Jason Edgeworth. [2] [1]
Tom Lee, Chairman of BitMine, commented on the leadership changes, stating, "Our new CEO and Board members bring a unique blend of experience, insight, and leadership across technology, DeFi and financial services, enabling BitMine to further position itself as the bridge between traditional capital markets and the supercycle Ethereum ecosystem." [1]
Vision and Strategy
Upon joining BitMine, Tsang articulated a vision for the company centered on its potential to become a major financial institution. He expressed strong confidence in BitMine's strategic position, stating, "With its substantial Ethereum holdings and credibility with both Wall Street and the Ethereum ecosystem, BitMine is positioned to become a leading financial institution." [2]
Tsang also contextualized the role of blockchain technology within broader market history, drawing a parallel between the ongoing financial market transformation and the technological disruptions caused by the internet and mobile phones in the 1990s. His leadership is intended to guide BitMine's strategy of bridging the gap between established, traditional capital markets and the decentralized finance (DeFi) sector built upon the Ethereum network. [2] [1]
Context of Appointment
Tsang's appointment as CEO came at a pivotal moment for BitMine, as the company worked to solidify its position as a leading corporate holder of Ethereum. Under Chairman Tom Lee, the firm's primary strategy shifted to focus on the accumulation of Ethereum. At the time Tsang took the helm in November 2025, BitMine was recognized as the largest corporate holder of ETH. [1] [2]
BitMine's corporate strategy of accumulating a large Ethereum treasury draws a direct parallel to the Bitcoin accumulation strategy employed by Michael Saylor's MicroStrategy. Both companies function as corporate proxies that allow investors to gain exposure to a single major cryptocurrency. While MicroStrategy focuses exclusively on acquiring Bitcoin, BitMine established itself as a leading treasury vehicle for Ethereum, with its strategy closely associated with Chairman Tom Lee. [7]
The company's significant holdings around the time of his appointment included:
- Ethereum (ETH): 3,505,723 ETH, which represented nearly 3% of the total circulating supply. The value of this holding was reported to be between 12 billion.
- Bitcoin (BTC): 192 BTC.
- Cash Reserves: $398 million.
The firm had also publicly stated its goal was to eventually acquire 5% of Ethereum’s free-floating token supply. BitMine's strategic direction and substantial treasury attracted a number of high-profile investors and backers, including ARK's Cathie Wood, Digital Currency Group (DCG), Founders Fund, Galaxy Digital, Kraken, Pantera, and Bill Miller III. [5]
He assumed leadership during a challenging period in the cryptocurrency market. In the 30-day period leading up to his appointment announcement, the price of Ethereum had declined by over 20%, and BitMine's stock (BMNR) had decreased by nearly 34%. Following the news of the leadership changes, BMNR shares saw a modest increase of 0.25% to $39.69 in after-hours trading. [2] [3]
m1720 Venture Capital
Tsang is the founder and Managing Partner of m1720 Venture Capital, a founder-focused, thesis-driven family of funds that invests at the pre-seed and seed stages. The firm's mission is based on the belief that "venture capital is fundamentally an act of service to founders," and it operates with the goal of fostering an "ecosystem of abundance." While described as sector-agnostic, the firm's strategy is organized around four core investment theses. [4]
Prior Experience
The subject has over two decades of experience across global finance, technology, and equity research, with senior leadership roles in Asia and a focus on TMT (telecom, media, and technology) sectors. [2] [4]
HSBC Global Banking and Markets (2012–2022)
From 2012 to 2022, Tsang worked at HSBC Global Banking and Markets. During this time, he held several senior positions, including Head of Asia Internet Equity Research and Global Head of Internet Equity Research. His tenure concluded with the role of Managing Director and Head of Asia TMT Global Banking from March 2018 to June 2022, in which he led the Asia TMT Global Banking franchise and oversaw key regional relationships. [2] [4]
Early Career
Tsang's career began at GE Asset Management – International Equities, where he worked as an Analyst from 1998 to 2000. He then moved to Neuberger Berman, serving as a Senior Vice President from 2000 to 2008 with responsibility for global telecom, media, technology, and China equities. From 2009 to 2011, he was a Senior Analyst for Asia at Lombard Odier, where he covered long/short equity strategies across China, Hong Kong, and Taiwan. His early experience also included roles at Lehman Brothers. [4]
