Bitcoin miner Hut 8 has appointed President and board member Asher Genoot as CEO. Genoot replaces Jaime Leverton, who departed the company immediately.

Genoot previously served as COO and then President of US Bitcoin Corp (USBTC), which completed a merger of equals with Hut 8 in November. He became Hut 8 President in December.

Following the merger, Hut 8’s board of directors determined the time was right to set a new strategic direction, and a change in leadership of the Nasdaq-listed firm was appropriate, according to a statement released today.

Hut 8’s ‘inflection point’

“Hut 8 is now at a pivotal inflection point, and we believe that Asher is uniquely qualified to accelerate our path to market leadership,” Hut 8 Chairman Bill Tai said.

“It has been a privilege to lead the Hut 8 …