Bitfarms Management
Management criteria checks 4/4
Bitfarms' CEO is Nico Bonta, appointed in May 2024, has a tenure of less than a year. total yearly compensation is $1.40M, comprised of 97.6% salary and 2.4% bonuses, including company stock and options. directly owns 2.11% of the company’s shares, worth $22.38M. The average tenure of the management team and the board of directors is 2.3 years and 4 years respectively.
Key information
Nico Bonta
Chief executive officer
US$1.4m
Total compensation
| CEO salary percentage | 97.6% |
| CEO tenure | less than a year |
| CEO ownership | 2.1% |
| Management average tenure | 2.3yrs |
| Board average tenure | 4yrs |
Recent management updates
Recent updates
Bitfarms: Good Q1, But Recent Troubles Create Concerns
Jun 14Bitfarms: A Bidding War Could Be Brewing
Jun 03Bitfarms Q1 2024 Earnings: Is The Worst Over? (Rating Downgrade)
May 16Bitfarms: Efficiency Deserves A Price Premium
Apr 29Not A Buy Until Bitfarms Makes Money
Mar 21Don't Bet The Farm On Bitfarms
Mar 11Bitfarms: The Adverse Ripple Effect Of 'Slow And Steady'
Feb 02Bitfarms: Slow And Steady Lose The Race
Jan 26Bitfarms mines 10% less bitcoins in September, sells 544 BTC
Oct 03Bitfarms tops 4 EH/s hashrate as production kicks off at Rio Cuarto warehouse
Sep 19Revisiting Bitfarms After Its Outstanding Second Quarter
Aug 30Bitcoin falls toward $21K, pulling down Hut 8, Marathon Digital, Riot shares
Aug 19Bitfarms Q2 2022 Earnings Preview
Aug 12Bitfarms records 270% increase in July hashrate and 28% growth in new mined bitcoin
Aug 01Bitfarms In Distress But Still Functional
Jul 09Bitfarms: Experience, Execution Vs. The Crypto Cold Snap
Jun 28Bitfarms: Higher Risk, Higher Reward
May 20The Bullish Potential For Clean Energy Bitcoin Miner Bitfarms Ltd.
May 12CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2024 | n/a | n/a | -US$106m |
| Dec 31 2023 | US$1m | n/a | -US$104m |
| Sep 30 2023 | n/a | n/a | -US$734k |
| Jun 30 2023 | n/a | n/a | -US$67m |
| Mar 31 2023 | n/a | n/a | -US$184m |
| Dec 31 2022 | US$3m | US$1m | -US$176m |
| Sep 30 2022 | n/a | n/a | -US$213m |
| Jun 30 2022 | n/a | n/a | -US$104m |
| Mar 31 2022 | n/a | n/a | US$34m |
| Dec 31 2021 | US$7m | US$312k | US$22m |
| Sep 30 2021 | n/a | n/a | US$7m |
| Jun 30 2021 | n/a | n/a | -US$21m |
| Mar 31 2021 | n/a | n/a | -US$21m |
| Dec 31 2020 | US$351k | US$190k | -US$16m |
| Sep 30 2020 | n/a | n/a | -US$10m |
| Jun 30 2020 | n/a | n/a | -US$1m |
| Mar 31 2020 | n/a | n/a | US$2m |
| Dec 31 2019 | US$175k | US$170k | US$3m |
| Sep 30 2019 | n/a | n/a | -US$11m |
| Jun 30 2019 | n/a | n/a | -US$16m |
| Mar 31 2019 | n/a | n/a | -US$17m |
| Dec 31 2018 | US$205k | US$200k | -US$9m |
| Dec 31 2017 | US$31k | US$30k | US$29m |
Compensation vs Market: Nico's total compensation ($USD1.40M) is below average for companies of similar size in the US market ($USD3.43M).
Compensation vs Earnings: Nico's compensation has been consistent with company performance over the past year.
CEO
Nico Bonta (49 yo)
less than a year
Tenure
US$1,399,370
Compensation
Mr. Nicolas Bonta, also known as Nico, Founded Bitfarms Ltd. (formerly Backbone Hosting Solutions Inc.) in 2017 and has been its Non Executive Chairman from December 29, 2022 and serves as its Interim Pres...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | less than a year | US$1.40m | 2.11% $ 22.4m | |
| Chief Financial Officer | 3yrs | US$2.61m | 0.020% $ 216.2k | |
| Executive Vice President of Infrastructure & Operations | no data | US$827.76k | 0.00058% $ 6.2k | |
| Vice President of Marketing & Communications | 2.3yrs | US$571.34k | no data | |
| Chief Mining Officer | 3yrs | US$679.41k | no data | |
| Senior Vice President of Finances & Accounting | 2.1yrs | no data | no data | |
| Senior VP & Head of Investor Relations | less than a year | no data | no data | |
| Senior Vice President of Corporate Development | 2.4yrs | no data | 0.0012% $ 13.0k | |
| Vice-President of Human Resources | 2.3yrs | no data | no data | |
| Vice President of Taxation & Sustainability | 2.4yrs | no data | 0.0026% $ 28.0k | |
| VP & Corporate Secretary | 2.4yrs | no data | no data | |
| Vice President of Information Technology | less than a year | no data | no data |
2.3yrs
Average Tenure
56yo
Average Age
Experienced Management: BITF's management team is considered experienced (2.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 5.7yrs | US$1.40m | 2.11% $ 22.4m | |
| Lead Independent Director | 4.2yrs | US$815.47k | 0.0013% $ 14.2k | |
| Independent Director | 1.6yrs | US$401.97k | no data | |
| Independent Director | 3.8yrs | US$740.35k | 0.012% $ 129.8k |
4.0yrs
Average Tenure
Experienced Board: BITF's board of directors are considered experienced (4 years average tenure).