Bitcoin Miner Bitfarms Fires Interim CEO Early After Exec Files $27 Million Lawsuit
- Geoffrey Morphy was appointed interim CEO in late 2022
- Bitfarms chairman named as interim president and CEO
Employees check mining machines at the Bitfarms cryptocurrency farming facility in Farnham, Quebec.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Bitfarms Ltd. said it had fired its outgoing interim president and chief executive officer, after the executive filed a lawsuit against the crypto miner claiming $27 million in damages for breach of contract among other issues.
Geoffrey Morphy, who was appointed to both positions in late 2022, was announced on March 25 to be leaving the Toronto-based company, pending a search for his replacement. Morphy has now been terminated effective immediately and no longer serves as a director of the company, Bitfarms said in a statement on Monday.