Hut 8 Mining, one of the largest cryptocurrency mining companies, was hit hard this year following pump & dump allegations.
Jamie Leverton, CEO of Hut 8 Mining, has left the company after three years. It was announced that Asher Genoot, who is the president of the company, will replace him.
Genoot, the founder of US Bitcoin Corp. (USBTC), became the manager of Hut 8 Mining after the company merged with USBTC in November.
said Bill Tai, Chief Executive Officer of Hut 8 Mining. “Hut 8 is currently at a critical inflection point and we believe Asher is uniquely qualified to accelerate our journey to become the leader of this market.” said.
Investment consultancy firm J Capital Research published a report on Hut 8 Mining on January 18, suggesting that Hut 8 Mining should merge with USBTC. as an impending “pump and dump” event he described.
Hut 8 Mining management responded to these allegations and “It was a deliberate attempt to spread false information about Hut 8, its operations, finances, management practices and key executives.” told.
According to TradingView data, Hut 8 shares have fallen approximately in the last 5 days. More than 50% since the beginning of this year, including 9% lost value.