Bitfarms Welcomes Fanny Philip to Board of Directors

Bitfarms Ltd. (Nasdaq/TSX: BITF), a global Bitcoin (BTC) mining company, has announced the appointment of Fanny Philip to its Board of Directors, effective immediately. The decision, unanimously approved by the Board, expands the board to five directors, four of whom are independent, according to GlobeNewswire.

Fanny Philip's Expertise

Fanny Philip is a seasoned expert in blockchain technology and finance, with a robust background in audit, public company reporting, and mergers and acquisitions. She is the founder of MTI Conseils Inc., an accounting firm offering outsourced accounting and CFO services. Her previous roles include CFO and VP Finances at Canada Computational Unlimited Inc. and COO at SATO Technologies Corp. Currently, she serves as the Chief Financial Officer at SOVIAGO, overseeing financial reporting and compliance, and has played a pivotal role in various strategic acquisitions.

Significance of the Appointment

Edie Hofmeister, Chair of Bitfarms’ Governance and Nominating Committee, highlighted the strategic value of Philip's appointment. “Fanny’s deep knowledge of the North American and European energy sectors, combined with her extensive experience in digital assets, mining, and AI, will be invaluable as we continue to drive significant organic growth,” Hofmeister stated. The appointment is part of Bitfarms' commitment to refresh its Board with independent and highly qualified candidates.

Bitfarms' Operations and Growth

Founded in 2017, Bitfarms operates 12 Bitcoin mining facilities with two more under development, spanning Canada, the United States, Paraguay, and Argentina. The company emphasizes sustainable energy practices, primarily utilizing hydro-electric power. Bitfarms is dedicated to expanding its operations and capturing a larger share of the global demand for Bitcoin.

Industry Impact

Bitfarms’ decision to integrate such a prominent figure in the blockchain and finance sectors underscores its strategic direction towards enhancing operational efficiency and regulatory compliance. This move is expected to bolster the company's market position and shareholder value amid a competitive and rapidly evolving industry landscape.

Forward-Looking Statements

This announcement includes forward-looking statements that involve risks and uncertainties, including the ability to achieve projected growth and operational goals. Readers are advised not to place undue reliance on these statements, as actual results may differ materially from those anticipated. For a detailed discussion of the risks, refer to the company's filings on regulatory websites.

For further information, visit Bitfarms' official website and social media channels.