Geoffrey Morphy, formerly the COO of Bitfarm, has been promoted to the position of CEO at the bitcoin mining company.
Following Emiliano Grodzki’s decision to step down as CEO of Bitcoin mining company Bitfarm, Geoffrey Morphy was elevated to the role of CEO.
According to a statement released by the business, Morphy will continue to serve as president of the company in addition to his former role as chief operating officer. Grodzki will continue in his capacity as a director on the board, while Nicolas Bonta will transition from his current function as executive chairman to his new one as chairman of the board.
Grodzki and Bonta established the company in 2017 and it is situated in Quebec. According to Morphy, who was quoted in the statement, “Challenging times are exactly why our concentration on operational efficiency, cost management, corporate governance, and a broad portfolio of untapped energy sources are so crucial and position us for success in all conditions.”
The company, which had said earlier in the year that it was boosting its mining operations, made the announcement in December that it would be selling up its Canadian de la Pointe property for a profit of $3.6 million.
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