Mawson Infrastructure Group’s board moved rapidly this summer season, reducing ties with its chief amid critical claims. On Could 30, the corporate put CEO Rahul Mewawalla on discover for “Cause” underneath 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 Court docket 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 line with reviews, simply months earlier than his ouster, Mewawalla obtained $2.5 million in money bonuses and 1.2 million restricted inventory items.
His base pay was additionally raised to $1.2 million. Again then, Mawson praised his management, citing 36% income development, a 35% soar in gross revenue and cuts in SG&A bills throughout his tenure.
Now, those self same achievements stand alongside allegations that he misused his function and harmed shareholders.
⚖️ #Bitcoin Miner Mawson Fires CEO, Information Fraud Lawsuit – What’s Going On?
Mawson’s management fallout provides to issues over governance requirements in #crypto mining, the place authorized accountability stays key fault line.$BTC pic.twitter.com/nKmQ1zLw5r
— CryptOpus (@ImCryptOpus) July 22, 2025
Board Names Interim CEO
Kaliste Saloom, the corporate’s basic 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 may very well be a protracted authorized battle. Primarily based on reviews, 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 Stress
This combat 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 handle for the miners and barred entry to Stone Ridge workers, citing a contract clause that the opposite facet says doesn’t apply.
Buyers will likely be watching each instances intently. If the board can show its claims in courtroom, Mawson may claw again thousands and thousands and ship a message about accountability.
Featured picture from Unsplash, chart from TradingView
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