Bitfarms Fires CEO Geoffrey Morphy After He Sues the Company

Bitfarms Ltd. announced on May 13, 2024, that it had terminated President and CEO Geoffrey Morphy "effective immediately," ending his tenure while an executive search for his replacement was already underway. Morphy had filed a Statement of Claim in the Superior Court of Ontario on May 10, 2024, “claiming damages for breach of contract, wrongful dismissal and aggravated and punitive damages in the amount of USD$27 million,” Bitfarms' own material change report said. The Block reported on May 13, 2024, that he had been promoted to CEO in December 2022. Before that he served as president and chief operating officer.