Bitfarms CEO Grodzki has resigned

ChainCatcher news, Bitcoin mining company Bitfarms' co-founder and CEO Emiliano Grodzki has resigned. It is reported that Emiliano Grodzki and Nicolas Bonta founded Bitfarms in 2017. After Grodzki's resignation, President and COO Geoffrey Morphy was promoted to CEO, Grodzki will continue to serve as a director, and Bonta will serve as chairman of the board.

The company reported a net loss of $85 million in the third quarter of 2022, compared to $142 million in the second quarter. Additionally, the company has been working to reduce its debt burden, having paid off $27 million in debt last November. Since January, Bitfarms' stock (BITF) has fallen more than 90%. (source link)