Timothy Morano
Nov 21, 2024 04:42
Bitfarms pronounces board growth to 6 members, appointing Andrew J. Chang as an unbiased director, following a particular shareholder assembly. Key shareholder proposals have been accredited.
Bitfarms Ltd. (NASDAQ/TSX: BITF), a distinguished participant within the Bitcoin mining sector, has introduced the outcomes of its particular shareholder assembly held just about on November 20, 2024. The assembly, which was attended by shareholders representing 50.83% of the corporate’s excellent widespread shares, resulted in a number of key selections geared toward enhancing the corporate’s governance and strategic route.
Board Growth and New Appointment
In line with GlobeNewswire, one of many main outcomes of the assembly was the approval of increasing Bitfarms’ Board of Administrators from 5 to 6 members. This choice acquired overwhelming assist, with 97.84% of the votes forged in favor. Subsequently, Andrew J. Chang was appointed as an unbiased director, supported by 98.65% of the voting shareholders.
Shareholder Rights Plan Ratified
The assembly additionally noticed the ratification of Bitfarms’ shareholder rights plan, initially adopted in July 2024. The plan was accredited with 98.58% of the votes forged in favor, reinforcing the corporate’s dedication to defending shareholder pursuits.
Andrew J. Chang’s Credentials and Function
Andrew J. Chang brings 20 years of expertise within the expertise sector to Bitfarms. As a founding accomplice of Liberty Metropolis Ventures and former COO of Paxos, Chang has been instrumental in driving innovation and development in blockchain and digital cost options. His experience is predicted to contribute considerably to Bitfarms’ strategic growth.
About Bitfarms
Based in 2017, Bitfarms is a vertically built-in Bitcoin information heart firm that operates throughout a number of nations, together with Canada, the US, Paraguay, and Argentina. With a give attention to sustainable power, Bitfarms leverages hydro-electric energy to assist its mining operations. The corporate presently operates 12 Bitcoin information facilities, with two extra facilities below growth.
Andrew Chang expressed enthusiasm about his new position, stating, “Bitfarms has constructed a powerful operation in Bitcoin mining, and I’m thrilled to work with the Board to outline the Firm’s subsequent chapter. There are unbelievable development alternatives forward, and Bitfarms is well-positioned for fulfillment.”
Picture supply: Shutterstock