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Bitfarm (NASDAQ:BITF) said Monday that L. Geoffrey Morphy, the bitcoin mining company’s president, CEO and director, will step down once an executive search is completed and will lead the company during the interim period.
The board has trained a CEO search committee for independent directors. In the meantime, Morphy will continue to focus on the company’s business growth strategy, as well as ensuring a smooth leadership transition.
“I have full confidence that the management team will achieve our 2024 growth targets,” Morphy, who joined BITF in 2020, said in a statement.