Bit Digital Announces North American Executive Team Headquartered in New York, Positions for Rapid Growth

Rhea-AI Summary

Bit Digital, Inc. (Nasdaq: BTBT) announced the appointment of Bryan Bullett as CEO and Sam Tabar as Chief Strategy Officer, reinforcing its executive team for growth. Bullett brings over 20 years of experience in financial technology and blockchain, while Tabar has a track record in strategic initiatives and FinTech. The company aims to leverage its high operating hash rate in Bitcoin mining and focus on sustainable mining practices to drive growth. CFO Eric Huang expressed optimism about the company's future.

Positive

• Appointment of experienced executives enhances strategic capabilities.
• Focus on sustainable energy solutions aligns with industry trends.
• High operating hash rate positions the company competitively in bitcoin mining.

Negative

• None.

NEW YORK, April 12, 2021 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a bitcoin mining company headquartered in New York with one of the highest operating hash rates (or computing power) among all US listed bitcoin miners, announced the appointment of Bryan Bullett as Chief Executive Officer and Sam Tabar as Chief Strategy Officer. Erke Huang will continue his role as Chief Financial Officer. The new appointments are expected to position the Company for continued rapid growth and access to new strategic opportunities.

Bryan Bullett, Chief Executive Officer

Mr. Bullett brings over 20 years of experience in investment banking, capital markets, financial services, financial technology and technology-related sectors. Since early 2020, Mr. Bullett has served as Managing Director for a boutique advisory firm focused on raising capital for strategies including FinTech and venture capital. Prior thereto, he served as Executive Vice President, US Head of Capital Markets for E&P Financial Group, a specialist funds manager with circa A$20 billion of assets under advice; among that firm's strategies was one of the largest solar energy fund managers globally. Prior thereto, he was an investment banker at FBR & Co. (formerly Friedman, Billings, Ramsey); KBW; Bank of America Merrill Lynch; and Deutsche Bank Securities. Before his financial services career, Mr. Bullett was a cofounder or early employee of several technology-related companies, two of which were ultimately acquired, by Google and Viacom respectively. Mr. Bullett has been involved in blockchain, digital assets and FinTech-related projects in various capacities, including as an investor, including a decentralized finance platform that was acquired by a leading DeFi provider. Bullett also advised and originated one of the first security token projects for a Manhattan real estate asset. Mr. Bullett completed his BA at Brown University and his MBA at Columbia Business School, and holds Series 7 and Series 63 securities licenses.

Sam Tabar, Chief Strategy Officer

In his role as Chief Strategy Officer, Sam Tabar will leverage his expertise in creating and executing highly specialized strategic initiatives. Mr. Tabar has a well-known 20 year track record in financial technology, financial services and law. Prior to joining Bit Digital, Mr. Tabar served as Co-Founder and Chief Strategy Officer of Fluidity, a FinTech company that built successful Blockchain products, including the popular decentralized exchange AirSwap, which was acquired by Ethereum software developer ConsenSys. Prior to this, he was a Partner at FullCycle Fund, a private equity firm investing in solutions to the climate crisis while generating attractive returns for investors. Prior thereto, he was Head of Capital Strategy for Bank of America Merrill Lynch, and previously of Sparx Group, where he helped build a global asset management business. He started his career as an attorney at Skadden, Arps, Slate, Meagher & Flom LLP. Mr. Tabar graduated from Columbia Law School and Oxford University. He remains a member of the New York State Bar Association.

"Sam and I are excited to work with the talented team that created and scaled Bit Digital to its current industry-leading position," said Bryan Bullett, Chief Executive Officer. "We are building a company with a differentiated business model, leveraging our position as one of the largest US listed bitcoin miners by operating hash rate, and expanding on our strengths in miner sourcing, access to power and hosting, and thoughtful deal structuring to maximize return on invested capital. In the months to come we expect to announce new strategic initiatives within the digital assets ecosystem that are expected to drive sustained and rapid growth."

"We are excited to have joined Bit Digital. Among other initiatives, we look forward to highlighting the Company's utilization of renewable energy, and our focus on sustainable solutions to mine bitcoin going forward. The future belongs to miners who embrace sustainability while generating attractive returns for shareholders as well as all stakeholders", noted Sam Tabar, Chief Strategy Officer.

"By strengthening our executive team in the United States, we are more ready than ever for what is the most exciting time in our Company's history thus far, said Chief Financial Officer Eric Huang, "We look forward to working together as we usher in the next generation of bitcoin miners."

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

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SOURCE Bit Digital, Inc.

FAQ

What notable appointments were made at Bit Digital in April 2021?

Bit Digital appointed Bryan Bullett as CEO and Sam Tabar as Chief Strategy Officer.

What is the focus of Bit Digital's growth strategy?

The company aims to leverage its high hash rate and sustainable mining practices to drive growth.

What experience does Bryan Bullett bring to Bit Digital?

Bullett has over 20 years of experience in financial services, technology, and blockchain.

How is Bit Digital positioned in the bitcoin mining industry?

Bit Digital has one of the highest operating hash rates among US-listed bitcoin miners.

What strategic initiatives does Sam Tabar plan to emphasize?

Tabar will focus on specialized strategic initiatives and promoting sustainable solutions in bitcoin mining.