Dive Brief:
- Hetal Majithia, CFO of Australia-based crypto mining company Mawson Infrastructure, resigned effective August 9, according to an SEC filing.
- The company has hired Ariel Sivikofsky, currently CFO of Distributed Storage Solutions Pty Ltd., Australia’s largest decentralized data storage provider, as a consultant, until it has appointed a new CFO.
- Mawson said in the SEC filing that the company does not have disagreements with Majithia. “Majithia is leaving the Company to pursue other opportunities,” it said.
Dive Insight:
Majithia’s resignation comes after the company signed a new 100 megawatt co-location deal in March with Celsius Mining, a subsidiary of the now bankrupt Celsius Network.
Her departure also follows a surge of other crypto CFOs exiting their firms, amid the slump in the sector’s valuations.
CFO of Vauld, a crypto lender, Jatin Mazalcar, left the company in July after they halted withdrawals.
Compass Mining CEO and CFO both resigned after citing setbacks and disappointments in June. Crypto firm CoinSwitch Kuber’s CFO, chief business officer and head of new initiatives all resigned back in July as well.
Majithia joined the Australia-based company after working at PwC as a senior manager for 4 years. Before that, she was at Dixons Carphone plc and KPMG, according to her LinkedIn account.
Mawson, which is a shareholder in Distributed Storage with a 20% stake, said Sivikofsky is “well-acquainted” with Mawson’s business and that his “cryptocurrency knowledge will benefit” the company.
Mawson did not immediately respond to a request for comment.
