Bitfarms Ltd. (BITF) announced that Geoffrey Morphy, who had been continuing as President and Chief Executive Officer, has been terminated effective immediately. He also no longer serves as a director. Nicolas Bonta, Chairman and Co-Founder, has been appointed interim President and Chief Executive Officer. The company noted that the CEO executive search is nearing completion.
Bitfarms said, on May 10, 2024, Morphy filed a Statement of Claim in the Superior Court of Ontario against the company claiming damages for breach of contract, wrongful dismissal and aggravated and punitive damages in the amount of $27 million. The company intends to defend itself vigorously.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.