Mawson Infrastructure Group’s board moved rapidly this summer season, reducing ties with its chief amid severe claims. On Could 30, the corporate put CEO Rahul Mewawalla on discover for “Cause” below his contract.
Days later, he was positioned on administrative go away. Then, on July 8, his board seat was taken away and a lawsuit was filed in Delaware’s Courtroom of Chancery.
The swimsuit accuses him of fraud and breach of obligation whereas on the helm of the Nasdaq‑listed Bitcoin miner.
Key Rewards Then Sudden Fallout
In keeping with experiences, simply months earlier than his ouster, Mewawalla acquired $2.5 million in money bonuses and 1.2 million restricted inventory items.
His base pay was additionally raised to $1.2 million. Again then, Mawson praised his management, citing 36% income progress, a 35% bounce in gross revenue and cuts in SG&A bills throughout his tenure.
Now, those self same achievements stand alongside allegations that he misused his position and harmed shareholders.
⚖️ #Bitcoin Miner Mawson Fires CEO, Recordsdata Fraud Lawsuit – What’s Going On?
Mawson’s management fallout provides to considerations over governance requirements in #crypto mining, the place authorized accountability stays key fault line.$BTC pic.twitter.com/nKmQ1zLw5r
— CryptOpus (@ImCryptOpus) July 22, 2025
Board Names Interim CEO
Kaliste Saloom, the corporate’s common counsel, was tapped as interim CEO for the Bitcoin mining firm after Mewawalla was positioned on go away.
Saloom faces the duty of steering the agency via what could possibly be an extended authorized battle. Primarily based on experiences, the board is looking for to get well damages that it says stem from Mewawalla’s actions.
On the similar time, he has pushed again. In a July 17 letter, he “respectfully and vigorously” denied any wrongdoing and pointed to the board’s earlier public reward of his outcomes.
Ongoing Miner Dispute Provides Strain
This struggle comes as Mawson is already tangled in one other swimsuit. Stone Ridge, which owns NYDIG, accused Mawson of wrongfully taking management of over 20,000 ASIC miners valued at about $30 million.
The 2 sides had a colocation deal beginning December 2023, set to finish by March 2025. However disagreements over charges turned ugly. Mawson despatched invoices totaling $1.9 million for area and energy.
Stone Ridge stated there was a deal to chop power use within the closing month and disputed these payments. Mawson then modified the payout deal with for the miners and barred entry to Stone Ridge workers, citing a contract clause that the opposite aspect says doesn’t apply.
Traders shall be watching each instances intently. If the board can show its claims in court docket, Mawson may claw again hundreds of thousands and ship a message about accountability.
Featured picture from Unsplash, chart from TradingView
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