Bit Digital announced a strategic realignment of its executive leadership team. The Company additionally announced its Advisory Board and outlined strategic priorities for 2023. Effective March 31, Bryan Bullett, the Company’s CEO, will conclude his term as CEO. Bullett will assume the role Senior Advisor, in which he will lead strategic growth initiatives for the Company. Sam Tabar, the Company’s Chief Strategy Officer, will be appointed CEO. The Company additionally announced a non-comprehensive list of strategic priorities for 2023. These priorities represent key focal points for the Company which Management refers to by the acronym "BETSS": Balance Sheet; Expand into PoS; Treasury Management; Strategic Capital Deployment; and Sustainability. Such priorities are subject to change based on market conditions and other factors, and are not necessarily presented based on priority ranking. The Company finished 2022 with $32.7M in cash, $27.7M of digital assets, zero debt, no miner purchase obligations, and no material capex commitments. An undrawn $500M at-the-market facility and circa 9M shares on an equity line of credit provide market access as further backup sources of liquidity, and the optionality to fund growth. Management intends to continue its prudent approach to the balance sheet through 2023 and beyond.
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