Canadian Crypto Mining Firm Bitfarms Announces Resignation of CEO Wes Fulford

Bitfarms, a Canada-based crypto mining firm, announced on Wednesday the resignation of its CEO, Wes Fulford. The company reported that its Chief Strategy Officer and Director, Emiliano Grodzki, will act as interim CEO and will oversee the execution of the company’s plans in the near-term.

Founded in 2017, Bitfarms notably operates blockchain computing centers and provides computing power to cryptocurrency networks such as Bitcoin. The company operates five facilities in Québec.

Bitfarms further reported that Fulford will remain one of the company’s consultants for a limited period in order to assist with transitional and other matters. Speaking about his departure, Fulford stated:

“It’s been an incredible experience working with the team at Bitfarms. We became the first cryptocurrency company to successfully clear a prospectus with the Ontario Securities Commission, a testament to our operational expertise, governance and transparency. In addition, Bitfarms was the only publicly traded blockchain infrastructure company to raise significant new capital last year, despite challenging market conditions. I look forward to participating in the growth of this business as a supportive shareholder.” 

Nicolas Bonta, Chairman of the Board of Directors, then added:

“On behalf of the Board of Directors, I would like to thank Wes for his many contributions to Bitfarms over the past two years. Under Wes’ stewardship, Bitfarms has successfully positioned itself as a leader within the North American public markets. We wish him all the best in his future endeavours.”

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