Hut 8 CEO: Task now is to make tough decisions to divest, invest and grow assets to improve profitability

Odaily News Hut 8s new CEO Asher Genoot said that the current task is to make difficult decisions to divest, invest and grow assets. He emphasized that Hut 8s goal is not to become the largest company in the field, but to be prepared to make tough decisions to improve profitability. Hut 8 had a net loss of approximately C$54 million (approximately US$40 million) in the third quarter of 2023, and the company has not released fourth-quarter financial results. (Blockworks) Previously, Bitcoin mining company Hut 8 has appointed president and board member Asher Genoot as CEO to replace the outgoing Jaime Leverton. Jaime Leverton served as chief operating officer of U.S. Bitcoin Company (USBTC), which merged with Hut 8 in November.