According to Foresight News, Bitfarms, a cryptocurrency mining company, has announced the immediate dismissal of its CEO, Geoffrey Morphy. The company's co-founder and chairman, Nicolas Bonta, has been appointed as the interim CEO.
In addition to his role as chairman, Nicolas Bonta will also serve as the temporary president and CEO of Bitfarms. This decision comes after Geoffrey Morphy filed a lawsuit against the company in the Ontario Superior Court on May 10.
Morphy is seeking compensation for breach of contract, wrongful dismissal, and aggravated and punitive damages. The total amount claimed in the lawsuit is 27 million dollars.