- Bitcoin mining company Hut 8 has announced a leadership transition following allegations made by an activist short-selling firm.
- Former CEO Jaime Leverton is immediately succeeded by Asher Genoot, who has been serving as Hut 8âs president since November 2023.
- The transition comes roughly three weeks after J Capital Research published a report containing allegations against Hut 8's management practices and finances.
- The report raised concerns about USBTC's financial health and suggested that Hut 8 inherited debt and faced challenges. Hut 8 has contested the claims, citing inaccuracies and misrepresentations in the report.
- The leadership change is seen as an effort to set a new strategic direction for Hut 8 and unlock the combined company's potential.
