BitMine faces shareholder backlash after contentious annual meeting over MrBeast deal

Beincrypto reports that only days after BitMine's (BMNR) annual shareholder meeting in Las Vegas, controversy erupted, exposing a sharp divide between management and investors over governance and the company's strategic shift. Shareholders criticized the meeting for absent executives, rushed presentations, unclear vote outcomes and poor execution; the CEO and CFO did not attend and promised high‑profile guest speakers failed to appear, with some investors likening the gathering to a "clown show." Concerns were heightened by Tom Lee's simultaneous leadership of Fundstrat, and Rob Sechan, a board member, acknowledged frustration while saying the AGM took place during a transition, with reportedly several executive positions filled only days prior and the meeting intended to explain the company's "DAT-plus" strategy.

Management says BitMine is shifting from pure ETH staking toward a "digital Berkshire-style" capital allocator; the company holds over 4 million ETH (about $14 billion) and currently generates $400–$430 million annually from staking, with projections of $540–$580 million as it targets 5% of Ethereum's supply.

Key Topics

Crypto, Bitmine, Ethereum, Mrbeast, Beast Industries, Tom Lee