Did you see that Emiliano Grodzki left Bitfarms as CEO? He has become a member of the board of directors. Basically, Geoffrey Morphy replaced him, who was the COO. Interesting timing because Bitcoin mining is going through a tough period.

Grodzki co-founded Bitfarms years ago in Canada with Nicolas Bonta, so he's not completely leaving the company. But when you see major miners like Core Scientific recently went bankrupt and others are in serious trouble, you understand these leadership changes make sense. This year's bear market was brutal.

Bitfarms had to sell nearly half of its bitcoins in June to improve liquidity, and then paid off $27 million of debt. Morphy says he's optimistic about the future and that in two years, he transformed the operation from a Canadian company into an international one with a presence in four countries. We'll see if Emiliano Grodzki, from his new role as director, continues to strongly bet on recovery or if this is more of a step back.