HomeMiningBitfarms CEO Steps Down, COO Takes Over

Bitfarms CEO Steps Down, COO Takes Over

-

Bitfarms, a Canadian bitcoin mining company, has announced the departure of its CEO, Emiliano Grodzki, effective immediately.

President and Chief Operating Officer Geoffrey Morphy has been named as his replacement. Grodzki, who co-founded the company in 2017 with Nicolas Bonta, will remain a director on the board. Bonta will become chairman of the board.

Bitfarms has experienced a tough year, with its stock down 92% and a market cap of just $85 million.

The company, which operates mining centers in Canada, the US, Paraguay, and Argentina, has been working to reduce its debt burden and improve its balance sheet.

In a statement, Bonta praised Morphy’s role in transforming the company from a small Canadian operation to an international presence.

Matt Goldberghttp://bitcoinmagnates.com
Matt Goldberg is a bitcoin early adopter and experienced software developer. His work has been used by large mining groups and bitcoin-oriented hedge funds.

LATEST POSTS

What is Microstrategy bitcoin strategy

Fast Facts Acquired 2,395 BTC for ~$42.8mm at an average cost of $17,871 / BTC between November 1, 2022, and December 21, 2022 Sold ~704 bitcoins for...

What happened with Bitcoin Mining market in 2022

2022 started as a fruitful year for Bitcoin and Ethereum miners, as prices for bitcoin and ether were just slightly below their ATH mania in 2021. However, as the year progressed, many miners soon ran into trouble as global macro and crypto markets collapsed from central bankers’ desperate attempts to maintain control of runaway inflation through various monetary policies and a significant escalation in the Russo-Ukrainian war.

Stacks Blockchain Project Aims to Introduce Smart Contracts to Bitcoin

Blockchain project Stacks has released a whitepaper outlining a new digital asset called "Stacks bitcoin" (sBTC) that aims to make Bitcoin fully programmable. Bitcoin's more straightforward scripting language currently limits what developers can create on the platform.

Bitfarms CEO Steps Down, COO Takes Over

Bitfarms, a Canadian bitcoin mining company, has announced the departure of its CEO, Emiliano Grodzki, effective immediately. President and Chief Operating Officer Geoffrey Morphy has been named as his replacement. Grodzki, who co-founded the company in 2017 with Nicolas Bonta, will remain a director on the board. Bonta will become chairman of the board.

Follow us

118FansLike
3,062FollowersFollow

Most Popular

spot_img