KEY POINTS
  • Core Scientific CEO Kevin Turner has resigned from his post.
  • Core Scientific co-founder and chairman, Mike Levitt, has stepped in as CEO.
Kevin Turner, chief operating officer of Microsoft Corp., listens during the annual Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, May 2, 2016. The conference gathers attendees to explore solutions to today's most pressing challenges in financial markets, industry sectors, health, government and education. Photographer: Patrick T. Fallon/Bloomberg via Getty Images

Kevin Turner has stepped down as CEO of crypto mining start-up Core Scientific, the company confirmed to CNBC Wednesday. He will continue on as an adviser to the company and remains a significant shareholder.

Core Scientific's co-founder and chairman, Mike Levitt, has stepped in as CEO.

Turner said in a statement to CNBC that "the timing was right" and that "Core is in great shape and preparing to go public and Mike has been involved since day one. Big things ahead for Core Scientific!"

According to a Geekwire article, Turner joined Core Scientific in 2018. He spent nearly three years running the blockchain infrastructure and hosting provider, which operates crypto mines across the country. The company has more than 100 employees, according to its LinkedIn profile page.

Turner has championed the company's mission to be 100% carbon neutral, addressing a common criticism of cryptocurrency mining. Fifty-six percent of the power used at its facilities today is from renewable sources, and the balance is purchased via National Wind Renewable Energy Certificates out of North Dakota.

Turner is considered a big validation point within the crypto community, given his ten-year tenure as the chief operating officer at Microsoft. He oversaw the company's massive sales and operations organization while there, including the launch of key products like Office 365. Prior to that, he spent more than 20 years at Walmart, where he served as CEO of Sam's Club and chief information officer at Walmart.