TechFlow News, on August 13, according to The Block, Nicolas Bonta, co-founder of bitcoin mining firm Bitfarms, has announced his resignation from the board of directors. CEO Ben Gagnon has been appointed to the company's board, and lead director Brian Howlett has become the new independent chairman.
Bonta was at the center of the acquisition battle between U.S.-based Riot Platforms and Bitfarms. In April, Riot attempted to acquire Bitfarms for approximately $950 million before withdrawing its offer in June. Riot currently holds around 70 million shares of Bitfarms and has nominated three independent directors to join Bitfarms' board. In July, Bitfarms dismissed CEO Geoffrey Morphy and appointed Gagnon as his successor.
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