The changes came amidst ongoing lawsuits against the mining company. Bit Digital (BTBT), which struggles with fraud claims, announced that its board of directors has dismissed Min Hu as CEO.
Bitcoin mining company also announced that Ping Liu resigned as chairman of the board for “health reasons”.
Who became the president?
CFO Erke Huang replaces Hu as interim CEO, while board member Zhaohui Deng was elected chairman.
The board also accepted Hong Yu’s resignation as chief strategy officer and director.
According to previous reports from CoinDesk, the changes came in the middle of an ongoing class action against the mining company. The lawsuit was filed after allegations of fraud surfaced in a research report published by J Capital last month.
Bit Digital denied the allegations.
The company also announced that it has recruited two senior strategy consultants with experience in financial services and digital assets, as well as legal and regulatory issues. Bit Digital said he expects the two consultants to become senior executives at the company after a transition period.
The company’s shares were largely unaffected by the news and have continued to trade for $ 18 to $ 20 since January 29.