Key Takeaways:
- Bitfarms appoints Ben Gagnon as new CEO amidst tensions with Riot Platforms.
- Riot Platforms seeks to restructure Bitfarms’ board, proposing new members.
- Dispute follows Riot’s increased stake and a rejected acquisition proposal.
Bitfarms has appointed Ben Gagnon as its new CEO amidst escalating tensions with Riot Platforms.
Riot Platforms is pushing for a special shareholders meeting to restructure Bitfarms’ board, aiming to replace current members Nicolas Bonta and Andrés Finkielsztain with John Delaney, Amy Freedman, and Ralph Goehring.
I am thrilled to be the new CEO of @Bitfarms_io.
— Hashoveride (₿en Gagnon) (@hashoveride) July 8, 2024
This has been my personal ambition for many years and it has become a reality.
I am honoured to take on this responsibility and to have this opportunity to lead this incredible team at this amazing point in time.
Let’s go $BITF https://t.co/cZiFLatC2y
This follows Riot’s increased stake in Bitfarms and a rejected acquisition proposal.
The dispute intensified after former CEO Geoffrey Morphy‘s departure amid a lawsuit against Bitfarms.
We’re delighted to share today’s news.
— Bitfarms (@Bitfarms_io) July 8, 2024
Get to know Bitfarms’ new CEO, Ben Gagnon in this interview👇
See the full press release here: https://t.co/ojAAnOUT92$bitf #Bitfarms #Bitcoin #Blockchain pic.twitter.com/GKo7d4LLac
Both companies are Nasdaq-listed, with Bitfarms’ shares rising and Riot’s shares declining recently.
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