01:55 PM EDT, 03/25/2024 (MT Newswires) -- Bitfarms Ltd. ( BITF ) , a global vertically integrated Bitcoin mining company, said Monday that L. Geoffrey Morphy will step down as chief executive officer of the company following the completion of an executive search process.

Morphy will lead the company during the interim period.

The board has formed a CEO search committee of independent directors, which will work with an identified executive search firm.

Also, the company has reiterated 2024 year-end guidance of 21 EH/s and 21 w/TH.

The company's shares edged up 1.6% on last look on Monday.

Price: 3.20, Change: +0.05, Percent Change: +1.59