Executive shifts and operational adjustments
The scenario took a turn with the resignation of CEO Jaime Leverton, followed by the appointment of Asher Genoot, previously the president and a board member, as the new CEO. Amid these developments, Hut 8 advised investors who purchased stock between November 9, 2023, and Jan 18, 2024, to contact law firms by April 8, 2024, if they wish to seek compensation for their losses.
These law firms have accused Hut 8 and its executives of violating federal securities laws by allegedly providing false financial information, negatively affecting the stock price.
Additionally, Hut 8 announced the closure of its mining facility in Drumheller, Alberta, on March 6, citing issues related to power disruptions and high energy costs as the primary reasons for this operational decision.
