Matt Prusak notified American Bitcoin Corp. on July 30, 2026, that he would step down as president and interim chief financial officer. The move took effect Aug. 4, 2026, as he took a job in his hometown of Austin, Texas, the Nasdaq-listed miner said in an 8-K filed Aug. 3, 20261. American Bitcoin called the resignation voluntary. It “was not the result of any disagreement with the Company on any matter relating to the Company's financial statements, operations, policies, or practices,” American Bitcoin said. Prusak's new employer is Giga Energy. He becomes its chief business officer and interim chief financial officer starting Aug. 4, 2026, CoinDesk reported on Aug. 3, 20262.
27 executive exits on the record in 2026, the most of any year
Executive exits CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2026: 27
- 2019, 2020, 2021, 2022, 2023, 2024, 2025
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2019 | 6 |
| 2020 | 1 |
| 2021 | 9 |
| 2022 | 9 |
| 2023 | 8 |
| 2024 | 11 |
| 2025 | 20 |
| 2026 | 27 |
Trading Venues & Brokerage led executive exits in 2026, with seven
Executive exits CryptoLately has verified in 2026, by the sector of the company
- Bitcoin & Mining: 2
- Trading Venues & Brokerage, Layer 1s & Infrastructure, Stablecoins & Payments, Capital Markets & Treasury, DeFi Protocols
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| Trading Venues & Brokerage | 7 |
| Layer 1s & Infrastructure | 3 |
| Bitcoin & Mining | 2 |
| Stablecoins & Payments | 2 |
| Capital Markets & Treasury | 2 |
| DeFi Protocols | 1 |
The move
Prusak explained the shift in his own words. "After years building bitcoin businesses," he was moving “upstream to the power infrastructure now constraining both mining and AI compute,” he told CoinDesk in emailed comments2. CoinDesk framed his exit as part of a wider pattern. Mining margins are under pressure as the business commoditizes. A growing number of miners, the outlet wrote, “are pivoting toward artificial intelligence infrastructure, repurposing their power, land and data center expertise to serve the surging demand for AI compute”.
Why leave a Nasdaq-listed bitcoin miner for a power-equipment company? Giga Energy is based in Houston. CoinDesk's report says the company has delivered more than 6.5 gigawatts of power infrastructure and is developing more than 500 megawatts of AI-ready data center capacity2. Access to reliable power, CoinDesk wrote, "has become one of the biggest constraints on expanding compute capacity." That constraint is pulling mining executives toward the infrastructure side of the business.
American Bitcoin before and after
Prusak had served as president of American Bitcoin, the miner co-founded by Eric Trump and backed by Hut 8. He also acted as its interim chief financial officer, CoinDesk reported2. CoinDesk called him "one of the public faces of the company's bitcoin accumulation strategy," regularly discussing its hashrate expansion and its bitcoin holdings per share. On July 31, 2026, four days before Prusak's exit took effect, American Bitcoin's board filled one of his two roles: it named Paul Sacks interim chief financial officer, a title he now holds alongside head of derivatives, at his existing pay, the 8-K said1. Sacks had served as head of derivatives at the company since May 2026. Before that he spent three and a half years as co-head of digital exotics at BlockFills, the filing said.
What to watch
American Bitcoin's 8-K leaves the president title vacant, so the next test is whether the company fills that seat or folds its duties into Sacks' expanded finance role. Giga Energy's own buildout is the second marker: the 6.5 gigawatts the company says it has already delivered, and the 500 megawatts of AI-ready capacity it has in development, are figures a reader can check against its next public update2.
Sources
- American Bitcoin Corp., Form 8-K, U.S. Securities and Exchange Commission, filed Aug. 3, 2026 (event dated July 30-31, 2026), https://www.sec.gov/Archives/edgar/data/0001755953/000119312526329645/abtc-20260730.htm
- Will Canny, "Trump-linked American Bitcoin president Matt Prusak departs for Giga Energy," CoinDesk, Aug. 3, 2026, https://www.coindesk.com/business/2026/08/03/trump-linked-american-bitcoin-president-matt-prusak-departs-for-giga-energy