Bitcoin miner Hut 8 has appointed president and board member Asher Genoot as CEO. Genoot replaces Jaime Leverton, who has left the company effective immediately.
Genoot previously served as COO and President of US Bitcoin Corp (USBTC), which completed its merger of equals with Hut 8 in November. He became president of Hut 8 in December.
Following the merger, Hut 8’s board of directors decided that the time was right to set a new strategic direction and that a leadership change at the Nasdaq-listed company was appropriate, according to a statement released today.
Hut8’s ‘Inflection Point’
“Hut 8 is now at a critical inflection point, and we believe Asher is uniquely qualified to accelerate our market leadership,” said Hut 8 Chairman Bill Tai.
Leverton added: “It has been an honor to lead the Hut 8 team and serve as CEO through a very important period for Hut 8.” “I am grateful to the Board of Directors for giving me the opportunity to lead such a talented and innovative team, and I am proud of the company we have built.”
Genoot thanked Leverton for his leadership in building a strong foundation for the company and emphasized his commitment to ensuring a smooth transition. “We are focused on strengthening our operations, driving profitable growth and creating continued shareholder value,” he said.
Last week, Marathon Digital agreed to pay Hut 8 a $13.5 million termination fee to gain full operational control of its two recently acquired Bitcoin mining sites in Granbury, Texas, and Kearney, Nebraska. Hut 8 inherited the service contract for the facility following its merger with USBTC.
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