Hut 8 Corp. (NASDAQ,: HUT) appointed E. Stanley O'Neal as chair of the board of directors, effective immediately. O'Neal, who has served as an independent director since November 2023, succeeds William Tai, who will remain as a director and member of the nominating and governance committee.

O'Neal previously served as chairman and chief executive officer of Merrill Lynch & Co. from 2002 to October 2007. He currently serves on the boards of Clearway Energy Inc. and Element Solutions Inc., and previously served on boards of General Motors and Arconic.

"Stan led one of the world's largest financial institutions and has served on our board since the early days of US Bitcoin Corp.," said Asher Genoot, CEO of Hut 8. The company describes itself as an energy infrastructure platform integrating power, digital infrastructure, and compute at scale.

Tai served as chair from November 2023 and previously chaired Hut 8 Mining Corp. from March 2018 through its merger with US Bitcoin Corp. He is a venture capitalist who was an early investor in companies including Canva, Zoom Video, and TweetDeck.

At the company's annual meeting held on the same day, all eight director nominees were elected. The voting results showed support ranging from 62.4 million votes for Amy Wilkinson to 70.5 million votes for CEO Asher Genoot, out of approximately 70.9 million total votes cast.

Hut 8 operates energy and data center infrastructure focused on energy-intensive technologies including artificial intelligence, high-performance computing, and ASIC compute. The leadership transition aligns with the company's focus on scaling its operations in the energy and technology sectors.