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SAN FRANCISCO, Dec. 15, 2020 /PRNewswire/ -- Layer1 Technologies Inc., the first U.S. based vertically-integrated and renewable energy Bitcoin mining and factory development company, announced today that it has reached a settlement agreement to resolve prior disagreements between its founders, including the discontinuance of all legal proceedings and demands.
As part of the settlement agreement, Alex Liegl, the prior Chief Executive Officer and an original founder of Layer1, has agreed to resign from the Board and as CEO. Mr. Liegl pioneered the integration of Bitcoin mining and renewable energy markets in the U.S.
Jakov Dolic has rejoined the company as Chief Executive Officer and Chairman of the Board of Directors. Mr. Dolic is one of the original founders of Layer1 Technologies Inc. and previously founded Genesis Mining Ltd., one of the world's largest cryptocurrency mining companies. Ivan Kirillov has also rejoined the company as Chief Technology Officer. Mr. Kirillov is another of the original founders of Layer1 Technologies Inc. and the mastermind behind many containerized and unique BTC mining solutions since 2016.