Bitfarms (BITF) Announces Annual General Meeting Results, New Board Members Elected
Bitfarms Ltd. (Nasdaq/TSX: BITF), a prominent global Bitcoin mining company, recently announced the outcomes of its annual general and special meeting of shareholders, held virtually on May 31, 2024. The meeting saw participation from shareholders representing 39.8% of the company's issued and outstanding common shares, totaling 149,457,098 shares, according to GlobeNewswire.
Election of Directors
During the meeting, four directors were elected for the ensuing year based on the proxies received and votes cast. The elected directors are:
| Nominee | Votes For | Votes Against* |
| Nicolas Bonta | 82,364,315 | 7,117,680 |
| Andres Finkielsztain | 81,170,259 | 8,311,737 |
| Edith M. Hofmeister | 63,902,867 | 25,579,129 |
| Brian Howlett | 81,169,394 | 8,312,604 |
It was noted that Emiliano Joel Grodzki, a co-founder of Bitfarms, was not re-elected to the board. The company expressed gratitude for his contributions and announced plans to seek a new candidate to enhance the board’s skill set and address independence concerns raised by some proxy advisory firms.
Appointment of Auditors
Shareholders also voted to reappoint PricewaterhouseCoopers LLP as auditors for the upcoming year. The votes in favor totaled 145,721,819 common shares, while the votes withheld totaled 3,774,608 common shares.
Approval of Equity Incentive Plan
An ordinary resolution to renew Bitfarms' long-term equity incentive plan was approved by shareholders, with 53,277,873 votes in favor and 36,204,123 votes against. This plan includes unallocated entitlements as detailed in the Management Information Circular dated April 16, 2024.
Current Officers
The following officers currently hold positions within Bitfarms:
| Nicolas Bonta Jeffrey Lucas Benjamin Gagnon Benoit Gobeil Marc-André Ammann Philippe Fortier Tracy Krumme Damian Luis Polla Paul Magrath Patricia Osorio Andrea Keen Stephanie Wargo Guillaume Reeves Jeff (Jun Feng) Gao |
- Chairman, Interim President & CEO - Chief Financial Officer - Chief Mining Officer - Executive Vice President Operations and Infrastructure - Senior Vice President of Finances and Accounting - Senior Vice President of Corporate Development - Senior Vice President, Head of Investor Relations - General Manager LATAM Operations - Vice President Taxation & Sustainability - Vice President & Corporate Secretary - Vice President of Human Resources - Vice President of Marketing and Communications - Vice President Information Technology - VP of Risk Management and Optimization |
About Bitfarms Ltd.
Founded in 2017, Bitfarms is a global Bitcoin mining company that contributes computational power to mining pools, receiving payment in Bitcoin. The company owns and operates 12 Bitcoin mining facilities across Canada, the United States, Paraguay, and Argentina, with a new facility under development. Bitfarms emphasizes sustainability, utilizing predominantly hydro-electric power and long-term power contracts.
For more detailed information, visit the official source.