Bitcoin Mining Firm Fortress Names Ex-Galaxy Digital Exec as New CEO — CoinDesk

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Scalia and Armstrong had been granted a typical choices deal for becoming a member of the corporate (650,000 dedicated shares at an train value of $0.56 per share), however there’s additionally an asset buy settlement. Fortress agreed to buy roughly CAD$254,000 (US$200,600 ) value of bitcoin mining machines and CAD$306,000 (US$241,700) value of bitcoin from Scalia and Armstrong in return for a million absolutely paid and non-assessable Fortress frequent shares. The asset settlement is anticipated to shut on Oct. 15.