Business
Bit Digital Announces Strategic Executive Leadership Realignment, Advisory Board and Strategic Priorities for 2023
NEW YORK, March 22, 2023 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a digital asset mining company headquartered in
About this update from Bit Digital, Inc.
[{"type":"text","content":"NEW YORK, March 22, 2023 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) (\"Bit Digital\" or the \"Company\"), a digital asset mining company headquartered in New York, today announced a strategic realignment of its executive leadership team. The move is expected to best position leadership roles with respect to the Company's current business prospects and growth objectives. The Company additionally announced its Advisory Board and outlined strategic priorities for 2023.\n\n \n \n \n \n \n \n\n \nLeadership Realignment \nEffective March 31, 2023, Bryan Bullett, the Company's Chief Executive Officer, will conclude his term as CEO. Mr. Bullett will assume the role Senior Advisor, in which he will lead strategic growth initiatives for the Company. Sam Tabar, the Company's Chief Strategy Officer, will be appointed CEO.\nMr. Bullett commented, \"As Senior Advisor, I look forward to focusing my efforts on strategic initiatives to further Bit Digital's expansion into additional, non-correlated income streams, as well as help facilitate the transition. In my past two years as CEO, the Company underwent profound positive shifts – exiting China in 2021; establishing an institutional U.S. platform; achieving 85% carbon-free energy; entering Ethereum staking; and along the way, demonstrating thought leadership and sound capital stewardship. I'm pleased to be passing onto Sam a pristine balance sheet, an innovative and growing treasury management portfolio, and most exciting, an expanding business model that, with ETH staking, we believe presents synergistic catalysts beyond traditional mining. Bit Digital is positioned to thrive as we move through and out of crypto winter, and I look forward to continuing working with Sam and the executive team.\" \nMr. Tabar stated, \"I'd like to express our gratitude to Bryan Bullett for his leadership and his contributions that have laid a strong foundation to build upon. As incoming CEO, I look forward to continuing to work together in his new capacity as Senior Advisor.\nGoing forward, Bit Digital will focus heavily on delivering maximum shareholder value. We will do this by differentiating ourselves from peers by aggressively pursuing new lines of business. What already differentiates us is our pristine balance sheet, unleveraged and sound mining business, and exciting new Ethereum business that posi...