Bitcoin miner Bitfarms announced on Tuesday that its co-founder and chair, Nicolas Bonta, will immediately step down. This decision comes as one of the three board members that Bitfarms' rival and top shareholder, Riot Platforms, aimed to replace. The conflict between the two companies has persisted since April, when Riot proposed an unsolicited $950 million acquisition offer for the Canada-based Bitfarms. Bitfarms deemed the offer as undervaluing the company and implemented a poison pill strategy to prevent a hostile takeover. Although Riot has retracted its offer, it is now seeking to secure three board seats at Bitfarms and has expressed its willingness to negotiate a potential deal with the new board. In response, Bitfarms has appointed Brian Howlett as the new lead director to succeed Bonta, and Ben Gagnon, the recently appointed CEO, will also join the board. Furthermore, Liam Wilson has been named the new chief operating officer of Bitfarms. Wilson previously held the COO position at the digital assets infrastructure company, Mawson Infrastructure Group.