Marathon will pay $ 24 million to the former CEO

Marathon will pay $ 24 million to the former CEO

The Marathon Digital Holdings mining company has reached a settlement agreement with the ex-General Director Merric Okamoto regarding compensation for a limited appeal action.

According to SEC form, Marathon will pay him $ 24 million.

Okamoto agreed to resolve and “wide disclosure of well -known and unknown claims to the company” related to the plan of promoting shareholders for 2018.

He left the posts of CEO and the chairman of the board of directors at the end of 2021. In both posts, his successor became Fred Til.

With the latter, as with four other persons, Marathon also reached a settlement agreement regarding promotion by shares The total amount of payments will be $ 1 million.

Recall that in September, Marathon got 360 BTC and brought the volume of reserves in cryptocurrency to 10 670 BTC.

Most of the company’s equipment operates at the facilities of the Compute North hosting provider, which previously submitted a bankruptcy statement.

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