Bitcoin mining company Bitfarms fires interim CEO Geoffrey Morphy, files $27M lawsuit, and plans to appoint a new CEO shortly.
Bitcoin mining company Bitfarms fired interim President and CEO Geoffrey Morphy, who filed a $27M lawsuit for breach of contract and wrongful dismissal. Bitfarms Chairman and co-founder Nicolas Bonta assumes the interim role. The company plans to appoint a new CEO soon and report Q1 financial results on May 15. Shares experienced a 6.65% decline after the news. Bitfarms faces challenges including elevated energy prices, competition, and the impact of the "halving" update.
May 13, 2024
3 Articles