Bit Digital removes CEO; board chair resigns

New York-based bitcoin mining company Bit Digital Inc.'s board elected independent director Zhaohui Deng chairman, replacing Ping Liu, who resigned for personal health reasons.

In addition, the board removed Min Hu as CEO, as he was not participating in the company's bitcoin mining operations, according to a press release. Hu will remain an independent director of Bit Digital.

The board appointed Erke Huang, currently CFO and a director, also to serve as interim CEO while an ongoing search for a new CEO continues.

The board also accepted the resignation of Hong Yu as chief strategy officer and a director. Yu decided it was in the company's best interests for him to pursue his other opportunities.

Separately, Bit Digital engaged two senior corporate strategy consultants in the U.S. with experience spanning traditional financial services and digital assets, as well as associated legal and regulatory matters. The consultants are expected to be announced as senior executives of the company following a transition period.