Marathon Digital and DMG Blockchain Solutions ink software & technology agreement

  • Marathon Digital (MARA -0.6%) and DMG Blockchain Solutions (OTCQB:DMGGF +1.0%) entered into a definitive license agreement for providing technology solutions for Marathon and the new Digital Currency Miners of North America (DCMNA) pool.
  • Under the agreement, Marathon will be licensing DMG's proprietary Blockseer pool technology to be used by the DCMNA entity.
  • DMG will receive $500K in Marathon shares, a monthly license fee paid in cash or Bitcoin with a sliding scale based on DCMNA's block rewards and transaction fees received by the pool and technical support services to be provided on an as-needed basis.
  • Separately, DMG announced that Daniel Reitzik, one of the founders, has resigned as a director and as the CEO; another founder Sheldon Bennett has been appointed CEO and will also continue in his COO position for now.
  • It also reported that Steven Eliscu has joined DMG's board and has been granted 200K stock options with an exercise price of $2.49 for a 3-year term.
  • Yesterday, the company launched its first North-American-based bitcoin mining pool.

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