BitMine Adds David Sharbutt to Board in Ethereum-Focused Strategy

• BitMine Appoints Former AMT to Board of Directors
• Company has already accumulated more than 1,8 million ETH
• The goal is to control up to 5% of the Ethereum supply

BitMine Immersion Technologies announced the appointment of David Sharbutt, a former board member of American Tower Corporation, to its Board of Directors. The decision, published on August 28, aims to strengthen the company's strategy for expanding Ethereum.

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We are pleased to announce David Sharbutt has been elected to the Board of Directors of BitMine.

Per Thomas “Tom” Lee of @fundstrat , Chairman
“Adding David's operational experience as one of the original wireless services entrepreneurs building Alamosa PCS into a…

— Bitmine BMNR (@BitMNR) August 28, 2025

Sharbutt has a 17-year track record at American Tower, during which the company's shares grew from $27 in 2003 to $304 in 2021. BitMine President Tom Lee noted that the executive's experience in operational growth and infrastructure makes him "the perfect addition" to the board, highlighting his ability to guide the company's Ethereum treasury, staking, and expansion of operations.

Lee compared American Tower's business model, which monetized essential infrastructure, to BitMine's role in the Ethereum ecosystem. He said the company's ETH assets and staking operations represent critical digital infrastructure for the network.

“ETH Treasury bonds are providing security services to the Ethereum network through native staking, and therefore BitMine is an essential digital infrastructure partner for Ethereum.”

he wrote.

Sharbutt said he was drawn to the company's long-term vision for Ethereum. "When Tom described the company's roadmap for ETH, I realized this is an opportunity to work on something transformative," he said.

Since shifting strategy from Bitcoin mining to focusing on an Ethereum-focused treasury, BitMine has rapidly expanded its market position. The company currently holds over 1,8 million ETH, valued at approximately US$7 billion, solidifying its position as the largest corporate holder of the asset.

The company's long-term plan is ambitious: to reach up to 5% of Ethereum's circulating supply. With this stake, BitMine would have significant influence over the network's liquidity and staking infrastructure, positioning itself as a central player in Ethereum's security and adoption on a global scale.

Lee reinforced that the company sees ETH not just as an investment asset, but as a pillar for the future financial system. "We continue to believe that Ethereum will be one of the biggest macroeconomic transactions in the next 10 to 15 years," he stated, highlighting blockchain's role in integrating with Wall Street and artificial intelligence.