BitMine faced backlash days after its annual shareholder meeting in Las Vegas, with investors criticising governance, transparency, and execution.
Shareholders said the meeting was poorly organised, citing absent executives, rushed presentations, and unclear voting outcomes.
Both the new chief executive and chief financial officer failed to attend, while promised high-profile guest speakers did not appear.
Some investors described the event as a “clown show,” reflecting frustration over what they saw as disrespectful treatment of shareholders.
Concerns were amplified by Tom Lee’s concurrent leadership role at Fundstrat, raising doubts about his focus on BitMine.
Board member Rob Sechan acknowledged investor dissatisfaction, noting the meeting took place during a transitional phase with recent executive appointments.
Sechan said the board aimed to outline the company’s “DAT-plus” strategy and long-term direction despite organisational challenges.
BitMine confirmed a strategic shift from a pure Ethereum staking model to a “digital Berkshire-style” capital allocation approach.