Bitfarms founder Nicolas Bonta resigns as Chairman of the Board

Bitfarms founder Nicolas Bonta announced his resignation from the company's board of directors in the face of competition from Bitcoin mining company Riot Platforms. Following the departure of the former chairman, Bitfarms appointed Brian Howlett as the new chairman. Additionally, Ben Gagnon, who was appointed as the CEO of Bitfarms last month, will also join the board of directors. These changes occurred after Riot Platforms accused Bitfarms of having "poor corporate governance practices and consistently failing to realize its full potential." Riot had previously attempted to acquire Bitfarms, and as of July 29, Riot holds 16.9% of Bitfarms' shares. (Blockworks)