The news of separation from Galaxy Digital, one of the largest Bitcoin mining companies in the world, came.
Hugh Gallagher, the CFO of the Bitcoin miner, has announced that he will be leaving his post. Gallagher stated that he will leave his post on May 12, 2023.
Unexpected Separation at Galaxy Digital
At Marathon Digital Holdings, a leader in supporting and securing the Bitcoin ecosystem, Chief Financial Officer Hugh Gallagher informed the Company that he plans to retire from May 12, 2023.
Hugh Gallagher stated in his separation statement:
“I joined the Marathon to support the organization through major expansion plans and help build the Company’s finance team,” he said. I have decided to retire because the hash rate has increased, it has become more stable and the team is now in a stronger position. I am proud of the progress we have made during my tenure, especially given the various challenges the team has overcome in 2022. Thank you Fred and the board for this opportunity and support, and I wish the entire Marathon team continued success. ”
Fred Thiel, president and CEO of Marathon, responded to the departure statement as follows:
“Hugh played a key role in developing our finance strategy, building our finance team, and helping us transition from a startup company to a more sophisticated organization. We are grateful to him for his contributions and the strong foundations he helped build. On behalf of the entire team at Marathon, I would like to thank Hugh for his service to the Company. He has been a valuable asset and we wish him every success in his retirement. As the search for a new CFO continues, we look forward to continuing to build the team at Marathon and establishing the Company as a leader in the Bitcoin mining industry.”
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