Emiliano Grodzki has stepped down as CEO of leading Bitcoin mining firm Bitfarms, joining a long list of crypto executives who resigned from their positions amid the bear market this year.Geoffrey Morphy as its new CEO, promoting him from his role as president and chief operating officer .
“Our foundational work over the last years built the strength and depth of skills we needed to navigate external factors. I’m even more optimistic today about Bitfarms’ long-term prospects than when I joined the company back in 2020.” – Morphy said.Grodzki and his partner Nicolas Bonta co-founded Bitfarms in Canada in 2017. Although Grodzki will no longer function as CEO, he will remain in the company as a Director on the Board.
Bonta will also function as the company’s new Chairman of the Board of Directors, moving from the position of Executive Chairman. Commenting on Morphy’s new position, Bonta noted that the new CEO had played a significant role in developing the firm’s management team, corporate structure, governance and control, investor relations, and operations and strategy since he joined Bitfarm two years ago.