Benzinga | Feb 3, 2021 02:45PM EST

Bit Digital Removes CEO For Not Participating In 'Bitcoin Mining Operations,' Elects New Chairman

* Bit Digital, Inc. (NASDAQ: BTBT) appointed CFO Erke Huang as the interim CEO and initiated a search for the new CEO after removing former CEO Min Hu for non-participation in its bitcoin mining operations. Hu will continue as an independent director.

* Independent director Zhaohui Deng was elected as the Chairman after current Chairwoman Ping Liu resigned for "personal health reasons."

* Hong Yu resigned as the Chief Strategy Officer and director to pursue other opportunities.

* The company appointed two senior corporate strategy consultants in the U.S. to be named senior executives upon a transition period.

* Price action: BTBT shares are trading higher by 3.83% at $19.28 on the last check Wednesday, after hitting a day high of $20.67.