The Bitcoin miner, which moved its headquarters to Miami from Toronto after merging with US Bitcoin, announced Wednesday that Jaime Leverton was leaving the role “effective immediately.” Asher Genoot, Hut 8’s president and a board member, will replace Leverton. (The Logic)

Talking point: The leadership shakeup comes weeks after J Capital Research, an activist investor and short seller, alleged Hut 8 overpaid for its merger with US Bitcoin. It also alleged members of US Bitcoin’s management team had relationships with stock brokers that have been sanctioned by regulators, and that Hut 8’s former auditor had also been sanctioned. In response, Hut 8 said the report was “filled with inaccuracies, misrepresented data, speculative claims, and unfounded character attacks,” and was a “deliberate attempt to spread misinformation” about the company. In a Wednesday press release, the Bitcoin miner said Genoot would bring a “disciplined” management approach during an “inflection point” for Hut 8.

Editor’s note: This briefing has been updated to include that Asher Genoot is president at Hut 8.