Bitfarms (BITF) Proposes Andrew J. Chang for Board of Directors

Bitfarms Ltd. (NASDAQ/TSX: BITF), a prominent player in Bitcoin data center operations, has announced the nomination of Andrew J. Chang for election to its Board of Directors. This move is set to be discussed at the company's Special Meeting of Shareholders on November 20, 2024, according to globenewswire.com.

Expansion of the Board

The upcoming Special Meeting will address the expansion of the Bitfarms board from five to six members. This expansion is part of the Settlement Agreement with Riot Platforms, Inc., dated September 23, 2024. Shareholders will also vote on ratifying the company's shareholder rights plan and other pertinent business matters.

Nominee Profile: Andrew J. Chang

Andrew J. Chang, a seasoned technology industry professional, is recognized for his extensive experience as an investor, executive, and entrepreneur. He co-founded Liberty City Ventures and served as COO of Paxos, a blockchain infrastructure platform known for its collaboration with PayPal and Stripe. At Paxos, Chang significantly expanded the team and played a pivotal role in launching regulated blockchain solutions.

His earlier roles include Strategic Partner Development Manager at Google and COO of ConditionOne. Chang holds an MBA from NYU's Stern School of Business and a BS from Boston College.

Bitfarms' Strategic Vision

Brian Howlett, Independent Chairman of the Board, emphasized the importance of strong corporate governance and diverse skills in executing the company's strategic initiatives. He expressed confidence in Chang's ability to contribute to Bitfarms' growth plans and maximize shareholder value.

About Bitfarms

Founded in 2017, Bitfarms operates globally, managing 12 Bitcoin data centers with more under development in Canada, the U.S., Paraguay, and Argentina. The company focuses on sustainability, utilizing hydro-electric power and long-term energy contracts.

Bitfarms remains committed to maintaining its status as a leader in the Bitcoin mining industry through strategic expansion and innovation.