- Bitfarms (TSX:BITF), a Bitcoin miner with operations across the world, has appointed attorney Rachel Silverstein as U.S. general counsel effective November 1, 2024
- Silverstein is one of the pre-eminent Bitcoin mining-focused attorneys in the U.S.
- Bitfarms is a vertically integrated Bitcoin data center company that contributes its computational power to mining pools from which it receives payment in Bitcoin
- Bitfarms stock has added 80.95 per cent year-over-year and 241.03 per cent since 2019
Bitfarms (TSX:BITF), a Bitcoin miner with operations across the world, has appointed attorney Rachel Silverstein as U.S. general counsel effective November 1, 2024.
Silverstein, an attorney with over 16 years of experience, is one of the pre-eminent Bitcoin mining-focused attorneys in the U.S., having served as lead counsel on over a gigawatt of Bitcoin mining transactions across multiple states and internationally.
She co-founded Firm 21m, a law firm representing Bitcoin miners, energy companies, investors and data center companies in a diversity of commercial transactions, including mergers and acquisitions, financings, energy supply agreements and hosting agreements. Prior to Firm 21m, Silverstein served as general counsel at Bitcoin miner CleanSpark (NASDAQ:CLSK) from 2020 to 2023, as well as corporate counsel at Zappos.
Silverstein’s appointment follows Bitfarms’ public spat with Bitcoin miner Riot Platforms (NASDAQ:RIOT) over the latter’s attempted hostile takeover. The companies have since settled their differences.
Leadership insights
“We continue to strengthen the Bitfarms team and are thrilled to have a thought leader like Rachel join our team,” Ben Gagnon, Bitfarms’ chief executive officer, said in a statement. “Internalizing this function will drive improved operating efficiencies, further enhance our corporate governance and reduce legal expenses. Rachel’s extensive expertise and proven track record with Bitcoin miners and data center builders will be invaluable as we continue to scale in the U.S. We look forward to her contributions as we continue to execute on our strategic initiatives and create further shareholder value.”
“Ben and the management team at Bitfarms are passionate, thoughtful and innovative leaders, and I am honored and excited to join the company during such a pivotal time of growth,” Silverstein said. “The company has a compelling strategic vision and I intend to leverage my industry acumen, deal-closing experience and operations-centric focus to execute on that vision with clarity, diligence and efficiency.”
About Bitfarms
Founded in 2017, Bitfarms is a vertically integrated Bitcoin data center company that contributes its computational power to mining pools from which it receives payment in Bitcoin. The company owns 12 operating Bitcoin mines and two under development in Canada, the United States, Paraguay and Argentina.
Bitfarms stock (TSX:BITF) last traded at C$2.66 per share. The stock has added 80.95 per cent year-over-year and 241.03 per cent since 2019.
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(Top photo of Bitfarms’ U.S. general counsel, Rachel Silverstein: LinkedIn)