Asher Genoot

Chief Executive Officer (CEO) at Hut 8 Corp

Board

Since February 7, 2024

Age

30 years

Education

Graduated summa cum laude from the University of Southern California with a Bachelor's in Business Administration.

Tenure

Joined HUT during the Business Combination, initially serving as President and Director before being promoted to CEO on February 7, 2024.

Also at Hut 8 Corp

Michael Ho

Chief Strategy Officer

Sean Glennan

Chief Financial Officer (CFO)

Victor Semah

Chief Legal Officer and Corporate Secretary

About

As a dedicated executive with a diverse entrepreneurial background, Asher Genoot entered the professional world at a young age by founding and later managing multiple ventures in Shanghai. His academic excellence is underscored by graduating summa cum laude from the University of Southern California with a Bachelor’s in Business Administration.

In his early career, he successfully led initiatives as the Founder and CEO of an education company and as Managing Director at a brand incubator. His role expanded further with important leadership positions at US Bitcoin Corp, where he served as President, Chief Operating Officer, and Director before transitioning to his current role at Hut 8.

At Hut 8, he has been instrumental in steering strategic growth and operational efficiency. After joining during the Business Combination, he served as President and Director before taking on the role of CEO on February 7, 2024, leading significant restructuring programs and forging key strategic partnerships.

$HUT Performance Under Asher Genoot

Past Roles

Organization	Role	Date Range	Details
Ionic Digital Inc.	Board Member	Jan 2024 - Jun 2024	Served on the board.
Hut 8	President	Until Feb 6, 2024	Served as President until becoming CEO.
USBTC (United States Bitcoin Corp.)	President, COO, Director	Dec 2020 - Feb 2024	Co-founded and served in leadership roles until the Business Combination with Hut 8.
Flagship Endeavors	Managing Director	Jan 2019 - Dec 2020	Gained experience in business development and management.
Curio	Founder and CEO	Apr 2016 - May 2019	Led a Shanghai-based education company.
Ivy Crest Institute of International Education	Founder	N/A	Started the business at age 19 in Shanghai and sold it shortly after its establishment.

External Roles

Organization	Role	Date Range	Details
Curio	Board Member	Current	Currently serves as a board member.

Fixed Compensation

Data from FY 2024

Component Name	Amount ($)	Payment Schedule	Additional Details
Base Salary	550,000	Annual (Effective February 6, 2024)	Increased from 490,000 to 550,000 in connection with CEO appointment
Young Presidents’ Organization Membership Fees	10,140	Annual (Paid in 2024)	Covers membership fees
Tax Filing Reimbursement	Up to 2,500	Annual	Reimbursement as per employment agreement
Severance (Qualifying Termination)	3,528,929	Lump sum upon Qualifying Termination event	Includes cash severance (990,000), equity vesting (2,522,012), and COBRA benefits (16,917)
Severance (Change in Control)	10,869,738	Lump sum upon Change in Control event	Includes cash severance (990,000), equity vesting (9,862,821), and COBRA benefits (16,917)

Performance Compensation

Data from FY 2024

Annual Bonus

Target Bonus: 550,000 (100% of base salary)
Actual Bonus Paid: 1,100,000 (200% of target)
Performance Conditions: Subject to performance goals set by the board; specific metrics are not detailed

Performance Stock Units (PSUs)

Grant Date: March 26, 2024
Grant Date Fair Value: 8,635,384
Performance Period: March 26, 2025 to March 26, 2027
Vesting Conditions:
- 0% Vesting: If the highest 20-Day VWAP during the performance period does not exceed the grant agreement VWAP by at least 50%
- 100% Vesting: If it exceeds by at least 50%
- 200% Vesting: If it exceeds by at least 100%
Additional Details:
- PSUs are part of the company’s 2023 Omnibus Incentive Plan, linking award value to long-term stock performance
- Specific grant date stock price is not provided