Golden Finance reported that Nicolas Bonta, co-founder of Bitcoin mining company Bitfarms, announced his resignation from the board of directors, CEO Ben Gagnon was appointed to the company's board of directors, and lead director Brian Howlett was appointed as the new independent chairman. Toronto-based Bitfarms fired CEO Geoffrey Morphy in May because he filed a lawsuit against the company for $27 million in liquidated damages. Last week, Bitfarms reported a net loss of $27 million, or 7 cents per basic and diluted share, better than the 11 cents per share loss expected by analysts. In addition, due to the reduction in block rewards after the Bitcoin halving event in April, the company's revenue was about $42 million, a 16% decrease from the first quarter.