Hut 8's new CEO Asher Genoot said the task now is to "make difficult decisions to divest, invest and grow assets." He emphasized that Hut 8's goal is not to become the largest company in the field, but to be prepared to make "tough decisions" to improve profitability.
Hut 8 had a net loss of about C$54 million ($40 million) in the third quarter of 2023, and the company has yet to report fourth-quarter financial results. (Blockworks)
According to previous news, Bitcoin mining company Hut 8 has appointed president and board member Asher Genoot as CEO, replacing the outgoing Jaime Leverton. Jaime Leverton served as chief operating officer of U.S. Bitcoin Corporation (USBTC), which merged with Hut 8 in November.