Bit Digital names Justin Zhu as chief accounting officer and principal financial officer

Bit Digital, Inc. (NASDAQ:BTBT) announced that its board of directors appointed Justin Zhu as chief accounting officer and principal financial officer, effective Friday. Zhu, who has served as the company’s senior vice president of finance since July 2021, will continue in that role in addition to his new responsibilities.

According to a statement released Tuesday, Zhu’s compensation will include an annual base salary of $300,000 and restricted share units equal to $150,000, which will be immediately vested and issued under the company’s 2025 Omnibus Equity Incentive Plan.

The company also disclosed that Erke Huang, who previously served as principal financial officer, has resigned from that position in anticipation of serving as chief financial officer at WhiteFiber, Inc., a Bit Digital subsidiary, in connection with a potential initial public offering. Huang will retain the title of chief financial officer at Bit Digital but will no longer serve as the principal financial officer.

The company said there were no arrangements or understandings between Zhu and any other persons regarding his selection as an officer. Zhu does not have any family relationships with the company’s directors or executive officers, and there are no related person transactions requiring disclosure.

Prior to joining Bit Digital, Zhu was a senior manager at Ernst & Young US LLP from 2015 to July 2021, advising Fortune 500 clients on accounting and regulatory matters. He began his career at PricewaterhouseCoopers LLP and holds a Bachelor of Business Administration in Accounting and a Master of Science in Taxation from Baruch College. Zhu is a Certified Public Accountant.

The information is based on a press release statement and a filing with the Securities and Exchange Commission.

In other recent news, Bit Digital, Inc. announced preliminary, unaudited revenue estimates for the second quarter of 2025, projecting figures between $24.3 million and $26.9 million. These estimates are based on currently available information and are subject to change upon the completion of financial closing procedures. In a strategic move, Bit Digital purchased approximately 19,683 Ethereum, increasing its total holdings to around 120,306 ETH. This purchase followed a $67.3 million registered direct offering to institutional investors, positioning the company among the largest institutional Ethereum holders in public markets.

Additionally, Bit Digital’s decision to expand its Ethereum holdings aligns with its long-term investment strategy. Meanwhile, WhiteFiber Inc. has filed for an initial public offering with plans to list on the Nasdaq under the ticker symbol "WYFI." The details regarding the number of shares and pricing have not yet been disclosed. These developments reflect ongoing strategic activities and financial projections within these companies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.