Bitfarms announces results of annual general, special meeting

Bitfarms (BITF) announces the results of its annual general and special meeting of shareholders, held virtually on June 30. A total of 224,085,154 common shares, representing 43.9% of the issued and outstanding common shares of the Company, were represented at the Meeting in person or by proxy. All items of business set forth in the Management Information Circular dated May 23 were approved by shareholders at the Meeting. Based on the proxies received and the votes cast at the Meeting, six directors were elected for the ensuing year. Shareholders also voted in favor of reappointing PricewaterhouseCoopers as independent auditors of the Company for the ensuing year and authorized the Directors to fix their remuneration, with votes “For” totaling 236,832,671 Common Shares and votes “Withheld” totaling 7,252,479 Common Shares. With votes “For” totaling 131,083,589 Common Shares and 27,232,799 “Against”, shareholders voted in favor of an ordinary resolution approving the Company’s new omnibus incentive plan and the unallocated entitlements thereunder for a period of three years, as more particularly described in the Circular. With votes “For” totaling 202,494,926 common shares and 41,590,225 “Against”, shareholders voted in favor of a special resolution to approve a future consolidation of the Common Shares on the basis of one post-consolidation Common Share for up to ten pre-consolidation Common Shares, if, and at such time following the date of the Meeting up to and including June 30, 2027, as may be determined by the board of directors of the Company in its sole discretion, as more particularly described in the Circular.