Bitfarms Promotes COO Geoffrey Morphy To Succeed Emiliano Grodzki As CEO

(RTTNews) - Bitcoin self-mining company Bitfarms Ltd. (BITF, BITF.TO) announced Thursday it has promoted President and Chief Operating Officer Geoffrey Morphy to the position of President and Chief Executive Officer, effective immediately.

Morphy has over 35 years of experience in senior management roles in private and public companies, banks, and corporate advisory firms.

Morphy served as a Director of Bitfarms from May 2020 until August 2020 when he joined the executive team as Executive Vice President - Finance, Administration, and Corporate Development. He was promoted to President in December 2020 and COO in December 2021.

Emiliano Grodzki has resigned as CEO and will remain a Director on the Board. Co-founder Nicolas Bonta will shift from the position of Executive Chairman to the role of Chairman of the Board of Directors.

Grodzki and Bonta co-founded Bitfarms in Quebec in 2017. Since founding the Company, Grodzki and Bonta have served both as Directors and executives and have been crucial players in the Company's strategic development.