Bitcoin mining company Bitfarms co-founder Nicolas Bonta has announced his resignation from the board of directors, with CEO Ben Gagnon appointed to the company's board of directors and lead director Brian Howlett as the new independent chairperson. Toronto-based Bitfarms fired CEO Geoffrey Morphy in May after he filed a lawsuit against the company seeking $27 million in liquidated damages. Last week, Bitfarms reported a net loss of $27 million, or 7 cents per share for basic and diluted losses, beating analysts' expectations of a loss of 11 cents per share. In addition, the company's revenue was about $42 million, down 16% from Quarter 1, due to a decrease in block rewards following the Bitcoin halving event in April.