Bitfarms co-founder Nicolas Bonta resigns from the board of directors

Deep Tide TechFlow News, on August 13, according to The Block, Nicolas Bonta, co-founder of the Bitcoin mining company Bitfarms, announced his resignation from the board of directors. CEO Ben Gagnon has been appointed as a member of the board, and Chief Director Brian Howlett has become the new independent chairman.

Bonta was central in the acquisition battle between the US-based Riot Platforms and Bitfarms. Riot Platforms attempted to acquire Bitfarms for approximately 950 million USD in April and withdrew the proposal in June. Riot currently holds around 70 million shares of Bitfarms and has nominated three independent directors to join Bitfarms' board of directors. Bitfarms dismissed CEO Geoffrey Morphy in July, and Gagnon succeeded him.