Bitfarms gets a new CEO days after $3.6M asset sale

Bitcoin mining firm Bitfarms has confirmed the appointment of a new CEO, Geoff Morphy.

self mining B T c The corporation has promoted its COO and President, Geoff Morphy, as the new CEO and tweeted new developments at Bitfarms.

The new development from Bifarms was distributed on its official website and Twitter page, confirming that they are making some changes. The company said that its former CEO Emiliano Grodzki has resigned as CEO, but will remain on its board as a director.

The other co-founder, Nicolas Bonta, will also move from executive chairman of the firm to chairman of the board.

Regarding the news, the new CEO, Geoff Morphy, said that he is ready to lead the growth of Bitfarms as he is more committed and motivated than when he joined the company in 2020. He reflected on his determination to help the firm raise the bar. as it continues with its mining activities.

Nicolas Bonta, the new chairman of the board of directors, also praised Geoff’s appointment, saying that the new CEO helped rebuild Bifirms from a small Canadian company with five mining farms to more than 10 farms in four different countries. .

These developments come days after the mining firm Sold a property for $3.6 million For the Société de Transport de Sherbrooke. This sale could be due to the ongoing crypto winter which shows that the organization may be in financial trouble. However, nothing confirms this speculation.

Crypto Bears Continue to Lurk

Crypto bears are still strong and lurking in the markets as crypto continues to slide over the holidays. Daily trading volume is notably low, while the prices of major cryptos such as BTC and ETH remain in a sideways price range.

Elsewhere, other crypto miners are still struggling to keep afloat. For example, Argo Blockchain received financial relief Michael Saylor’s Galaxy Digital, It received $65M to help it continue its operations.

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