Simply two months after the merger between Hut 8 and US Bitcoin Corp, the mixed bitcoin miner has named a brand new CEO.
Former Hut 8 president Asher Genoot — a member of the corporate’s board of administrators — is now its new chief government, the agency mentioned Wednesday. He replaces Jaime Leverton, who departs the agency after working as its CEO since December 2020.
A change of management was “applicable” as Hut 8 seeks to go in “a brand new strategic path,” the corporate mentioned in a information launch.
“The merger of equals of Hut 8 and US Bitcoin Corp was a transformational second for each corporations,” Hut 8 board chairman Invoice Tai added in a press release. “Hut 8 is now at a pivotal inflection level, and we consider that Asher is uniquely certified to speed up our path to market management.”
Learn extra: Merge between Hut 8, USBTC anticipated to shut this week
The transfer seems to be surprising, because the agency famous Leverton would stay as CEO of the mixed firm in a Nov. 30 information launch, upon the deal’s closing.
A Hut 8 spokesperson didn’t instantly return a request for additional remark.
“It’s with a coronary heart stuffed with gratitude and like to the unbelievable workforce, companions and buddies which have made the final three years such an unbelievable experience,” she wrote in a LinkedIn put up. “I can’t wait to see extra nice issues from Hut 8 on this subsequent chapter!”
A brand new post-merge technique
The deal between Hut 8 and US Bitcoin Corp was first introduced in February. The mixture 9 months later helped each companies diversify their geographic presence, with US BTC’s operations in New York, Nebraska and Texas complementing Hut 8’s Canadian footprint.
Hut 8 was additionally set so as to add enterprise traces after the deal, with Leverton touting US Bitcoin Corp’s fiat-based income streams from its internet hosting and managed infrastructure operations.
Hut 8 Chief Technique Officer Mike Ho mentioned throughout a December name with analysts that the corporate would look to bolster its standing in nascent markets corresponding to synthetic intelligence infrastructure and computing.
Learn extra: New-look Hut 8 eyes AI-related alternatives after merger
Genoot was a co-founder of US Bitcoin Corp and beforehand served as its chief working officer, after which president, earlier than the corporate merged with Hut 8.
The brand new CEO mentioned in a press release that whereas Leverton “constructed a robust basis” for Hut 8, he would work with the corporate’s board of administrators “to outline a brand new technique for the corporate.”
Hut 8 had a self-mining deployed hash price of seven.2 exahashes per second (EH/s), as of Jan. 31 — although that quantity could possibly be affected because it will get set to depart two mining websites. The corporate produced 339 bitcoin (BTC) final month and holds 9,116 bitcoins on its steadiness sheet.
The CEO change comes simply days after Hut 8 Chief Industrial Officer Matt Prusak left his put up on Jan. 31 to take over the mining firm being spun out of the Celsius chapter.
