Mawson Infrastructure Group’s board moved rapidly this summer time, chopping ties with its chief amid critical claims. On May 30, the corporate put CEO Rahul Mewawalla on discover for “Cause” beneath 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 of Chancery.
The go well with accuses him of fraud and breach of responsibility whereas on the helm of the Nasdaq‑listed Bitcoin miner.
Key Rewards Then Sudden Fallout
According to reviews, simply months earlier than his ouster, Mewawalla acquired $2.5 million in money bonuses and 1.2 million restricted inventory models.
His base pay was additionally raised to $1.2 million. Back then, Mawson praised his management, citing 36% income development, a 35% soar in gross revenue and cuts in SG&A bills throughout his tenure.
Now, those self same achievements stand alongside allegations that he misused his position and harmed shareholders.
⚖️ #Bitcoin Miner Mawson Fires CEO, Files Fraud Lawsuit – What’s Going On?
Mawson’s management fallout provides to issues over governance requirements in #crypto mining, the place authorized accountability stays key fault line.$BTC pic.twitter.com/nKmQ1zLw5r
— CryptOpus (@ImCryptOpus) July 22, 2025
Board Names Interim CEO
Kaliste Saloom, the corporate’s 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 by what may very well be an extended authorized battle. Based on reviews, the board is searching for to get better damages that it says stem from Mewawalla’s actions.
At the identical 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 Adds Pressure
This struggle comes as Mawson is already tangled in one other go well with. Stone Ridge, which owns NYDIG, accused Mawson of wrongfully taking management of over 20,000 ASIC miners valued at about $30 million.
The two sides had a colocation deal beginning December 2023, set to finish by March 2025. But disagreements over charges turned ugly. Mawson despatched invoices totaling $1.9 million for area and energy.
Stone Ridge mentioned there was a deal to chop vitality use within the ultimate 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.
Investors can be watching each instances carefully. 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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