According to Blockworks, Hut 8 has appointed Asher Genoot as its new CEO, following the merger between the company and US Bitcoin Corp. Genoot, a former Hut 8 president and member of the company's board of directors, replaces Jaime Leverton, who served as CEO since December 2020. The change in leadership is considered 'appropriate' as Hut 8 seeks to pursue a new strategic direction.
The merger between Hut 8 and US Bitcoin Corp was announced in February and completed in November. The combined company aims to diversify its geographic presence, with US BTC's operations in New York, Nebraska, and Texas complementing Hut 8's Canadian footprint. Hut 8 also plans to add business lines, including fiat-based revenue streams from US Bitcoin Corp's hosting and managed infrastructure operations.
Genoot, a co-founder of US Bitcoin Corp, previously served as its chief operating officer and president before the merger. As the new CEO, he will work with the company's board of directors to define a new strategy for Hut 8. As of January 31, the company had a self-mining deployed hash rate of 7.2 exahashes per second (EH/s), produced 339 bitcoin (BTC) last month, and holds 9,116 bitcoins on its balance sheet.