Bitcoin mining company Mawson has fired its CEO, accusing him of fraud and breach of fiduciary duty

According to The Miner Mag, Mars Finance reports that Mawson Infrastructure, a Bitcoin mining and custody company, has fired CEO and President Rahul Mewawalla and removed him from the board of directors for breach of fiduciary duties and fraudulent conduct. Mawson has filed a lawsuit in the Delaware Court of Chancery seeking damages. Mewawalla previously received a $2.5 million bonus and 1.2 million restricted stock units for "high performance" with an annual salary raised to $1.2 million. In his response, he denied any misconduct and emphasized that under his leadership, the company's revenue grew by 36% and gross profit increased by 35%. Additionally, Mawson is also involved in a litigation with NYDIG and its parent company Stone Ridge, involving a custody dispute concerning over 20,000 mining machines valued at $30 million.