Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
:format(jpg)/s3.amazonaws.com/arc-authors/coindesk/83b3bbdb-5508-48a9-a9d9-2d7dd460fd5b.png)
Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Bitcoin miner Marathon Digital’s (MARA) CFO Hugh Gallagher plans to retire from his role on May 12, about an year after he was appointed in the role.
“With hash rate growing and becoming more stable and with the team now in a stronger position, I made the decision to retire,” Gallagher said in a statement. He was appointed to the CFO role on March of last year.
The move comes as bitcoin miners have gone through a difficult year, with bitcoin prices sinking and higher energy prices driving up costs, which weighed on their profit margins. Marathon’s stock price has fallen about 71% in last 12 months, while bitcoin fell about 40%, according to TradingView data.
An external search for a new CFO is already in the process, the company said in the statement.
Edited by Nick Baker.
DISCLOSURE
Please note that our
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
which invests in
and blockchain
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
https://www.coindesk.com/business/2023/03/31/bitcoin-miner-marathon-digitals-cfo-to-retire-after-one-year/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
