Well, folks, it looks like the board finally decided to stop playing nice on May 30 and issued a termination notice to Mewawalla “for Cause.” You know, that’s corporate speak for “We’re kicking you out faster than a bad Tinder date.” 📅🚪 After some administrative leave (which we can only assume involved existential dread and binge-watching bad reality TV), he was officially out on July 8. The Delaware lawsuit claims our dear Mewawalla misused his shiny title and harmed shareholders. How shocking, considering he previously basked in the glory of boosting revenue and profitability like a middle schooler flexing their report card! 🎉
But don’t worry, Mewawalla is here for a dramatic exit—denying any wrongdoing and rejecting the board’s allegations “respectfully and vigorously.” Which, let’s be real, is the corporate equivalent of “I’m not mad; I’m just disappointed!” 😱 And he pointed out their prior public support. Great strategy, buddy! Nothing says “trust me” like a letter filled with exclamation marks and desperation!
In the meantime, we have Kaliste Saloom stepping in as interim CEO. Kaliste’s job? Navigate this corporate ship through choppy legal waters—like a lifeboat in a Titanic reenactment. 🎭💕 The board’s also after financial damages from Mewawalla’s alleged shenanigans. All this drama over a few bucks? I can’t even…
The plot thickens, because Mawson is now throwing punches in a legal squabble with Stone Ridge, who’s not sitting pretty as they accuse Mawson of improperly seizing 20,000 ASIC miners worth a cool $30 million. Because why not add a bit more chaos? It’s like a family Thanksgiving with 50% more yelling and 100% more legal jargon! Delving into the world of colocation fees and energy usage, this is a classic case of “but you took my toys first!” 🧸💥
So, with two high-stakes cases going full soap opera, Mawson is drowning in legal, operational, and reputational stress. All this while the crypto mining industry is basically yelling, “Why can’t you all just get along?” Makes us all reevaluate our life choices, doesn’t it? 🤷♀️
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2025-07-24 08:20