Bitfarms mining company appoints new CEO

Following the resignation of former CEO Emiliano Grodsky, the bitcoin miner’s new CEO is Jeffrey Morphy, who has moved on from his role as chief operating officer.

The company noted that Morphy will also retain his position as president, while former Bitfarms CEO Grodsky will serve as a board director.

BTC miner Bitfarms launched in 2017. The founders were Emiliano Grodsky and Nicolas Bonta. The new CEO notes the importance of building a sound strategy in a particularly challenging environment in the crypto market.

We concluded that the main focus should be on controlling costs and building operations. In addition, with the help of corporate governance, competent portfolio diversification, and effective use of available resources.

Recall that Bitfarms recently sold one of its data centers, located in de la Pointe, Canada, to a public transportation service. In addition, due to the low share price, Bitfarms was warned about possible delisting by the Nasdaq exchange.