Bit Digital Announces Management Changes

February 3, 2021/PRNewswire/ Bit Digital (NASDAQ: BTBT), an emerging New York-based Bitcoin mining company, announced management changes:

1 The company's board of directors accepted the resignation of Ms. Ping Liu as a director and chairman of the board due to personal health reasons. Subsequently, the board elected director Zhaohui Deng as the chairman of the board.

2 In view of the fact that after the restructuring, the company is mainly engaged in Bitcoin mining and other related businesses, and Min Hu is not involved in the management and operation of the new business, Min Hu will no longer be the CEO of the company and will continue to be an independent director of the company.

3 The board of directors then appointed Erke Huang, the current chief financial officer and director, as interim CEO. At the same time, the company will continue to seek the appointment of a full-time CEO with rich operational management experience with the company's main business

4 The Board also accepted Hong Yu's resignation as Chief Strategy Officer and Director.

In addition, the company has hired two senior corporate strategy advisors, who have extensive experience in traditional US financial services and digital assets, as well as related legal and regulatory matters. The addition of these resources will greatly enhance Bit Digital's management and operation capabilities; through cooperation with the Bitcoin mining business management team, the consultants will help upgrade and expand the company's business model.

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