Bitcoin (CRYPTO: $BTC) miner turned data centre operator Hut 8 (NASDAQ: $HUT) has appointed a new chair to its board of directors.
E. Stanley O’Neal has been named board chair at Hut 8. His appointment is effective immediately, according to the company.
O’Neal has served as an independent director on Hut 8’s board since November 2023. As board chair, he succeeds William Tai, who will continue as a board member going forward.
O’Neal previously served as Chief Executive Officer (CEO) of brokerage Merrill Lynch from 2002 until 2007.
Additionally, O’Neal previously served on the board of U.S. Data Mining Group from March 2021 through its merger with Hut 8. He also previously served on the board of General Motors (NYSE: $GM) from 2001 to 2006.
At Hut 8’s recent annual meeting, eight board members were elected and O’Neal’s appointment as board chair was approved by shareholders.
Hut 8 is a Bitcoin miner that has been shifting its focus to artificial intelligence (A.I.) and high-performance computing (HPC) data centres in recent years.
The company’s stock has been ripping higher as it signs data centre deals with hyperscalers such as Nvidia (NASDAQ: $NVDA) and Alphabet (NASDAQ: $GOOGL).
HUT stock is up 544% over the last 12 months and trading at $118.86 U.S. per share.
