Simply two months after the merger of Hut 8 and US Bitcoin Corp, the mixed bitcoin miner has named a brand new CEO.
Former Hut 8 President Asher Genout — a member of the corporate’s board of administrators — is now its new chief govt, the corporate introduced Wednesday. He replaces Jaime Leverton, who’s leaving the agency after serving as CEO since December 2020.
The management change was “acceptable” as Hut 8 seeks to maneuver in a “new strategic path,” the corporate mentioned in a press launch.
“The merger of equals between Hut 8 and US Bitcoin Corp is a transformational second for each corporations,” Hut 8 Chairman Invoice Tai added in a press release. “Hut 8 is now at a vital inflection level and we consider Asher is uniquely certified to speed up our path to market management.”
Learn extra: Hut 8 and USBTC merger anticipated to shut this week
The transfer seems stunning because the agency famous in a Nov. 30 press launch that Leverton will stay CEO of the mixed firm after the deal closes.
A Hut 8 consultant didn’t instantly reply to a request for additional remark.
“With a coronary heart stuffed with gratitude and love for the unbelievable group, companions and associates who’ve made the final three years such an unbelievable journey,” she wrote in a put up on LinkedIn. “Wanting ahead to seeing much more nice stuff from Hut 8 within the subsequent chapter!”
New technique after merger
The deal between Hut 8 and US Bitcoin Corp was first introduced in February. The merger 9 months later helped each corporations diversify their geographic presence, with US BTC’s operations in New York, Nebraska and Texas complementing Hut 8’s presence in Canada.
Hut 8 was additionally trying so as to add enterprise traces following 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 name with analysts in December that the corporate would look to strengthen its place in rising markets reminiscent of synthetic intelligence infrastructure and computing.
Learn extra: Hut 8’s new look opens up synthetic intelligence capabilities after merger
Genut 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 has “laid a robust basis” for Hut 8, he’ll work with the corporate’s board of administrators “to outline a brand new technique for the corporate.”
As of January 31, Hut 8 had a self-mining hashrate of seven.2 exahashes per second (EH/s), though this quantity might change as will probably be break up into two mining websites. The corporate produced 339 bitcoins (BTC) final month and holds 9,116 bitcoins on its stability sheet.
The CEO change comes simply days after Hut 8 chief industrial officer Matt Prusak left his put up on Jan. 31 to steer the mining firm spun out of the Celsius chapter.