Bitfarms Welcomes Rachel Silverstein as U.S. General Counsel
Bitfarms Ltd. (NASDAQ/TSX: BITF), a prominent player in Bitcoin data center operations, is excited to announce the appointment of Rachel Silverstein as its U.S. General Counsel, effective November 1, 2024. This newly created role signifies a strategic move to bolster the company’s legal operations and governance.
Rachel Silverstein's Expertise
With over 16 years of legal experience, Ms. Silverstein is recognized as one of the leading attorneys specializing in the Bitcoin mining sector within the U.S. She has had a prominent role in managing over a gigawatt of Bitcoin mining transactions spread across various states and countries. Previously, Ms. Silverstein co-founded Firm 21m, a law firm that provides comprehensive legal services to Bitcoin miners, energy firms, investors, and data center developers.
A Track Record of Success
Before the establishment of Firm 21m, Ms. Silverstein served as General Counsel for CleanSpark, Inc. from 2020 to 2023, and held the title of Corporate Counsel at Zappos among other positions. Ms. Silverstein’s academic background includes a bachelor’s degree from The George Washington University and a juris doctorate from the William S. Boyd School of Law, located at the University of Nevada-Las Vegas.
Bitfarms' Vision and Growth
Ben Gagnon, the Chief Executive Officer of Bitfarms, expressed enthusiasm regarding Ms. Silverstein’s joining the team. He noted that her leadership and innovative thinking align with Bitfarms' objective of improving operational efficiency, enhancing corporate governance, and minimizing legal expenses. Gagnon remarked, “Her extensive expertise with Bitcoin miners and data center developers will support our goal of scaling operations across the U.S.”
Commitment to Strategic Development
Ms. Silverstein conveyed her excitement about joining Bitfarms at such a transformative phase in the company's growth. She stated, “The management team at Bitfarms is innovative and dedicated, and I am thrilled to be part of this mission. I aim to utilize my industry experience and operations-focused approach to drive the company’s strategic goals effectively.”
About Bitfarms Ltd.
Established in 2017, Bitfarms is dedicated to vertically integrated Bitcoin data center operations. The company provides massive computational power to various mining pools, receiving payments in Bitcoin. Their facilities encompass in-house management alongside company-operated electrical engineering, installation services, and technical repair services to ensure peak operational performance.
A Sustainable Future
At present, Bitfarms operates 12 Bitcoin data centers, with two additional facilities in development across four countries. The company's primary energy sources are sustainable and primarily derived from hydroelectric power, reflecting its commitment to utilizing underused energy infrastructures.
Frequently Asked Questions
Who is Rachel Silverstein?
Rachel Silverstein is the newly appointed U.S. General Counsel for Bitfarms, bringing extensive experience in Bitcoin mining legal affairs.
What is Bitfarms?
Bitfarms Ltd. is a global leader in Bitcoin data center operations, providing computational power to mining pools and focusing on sustainable energy practices.
When does Rachel Silverstein start at Bitfarms?
Rachel Silverstein will officially take on her role as U.S. General Counsel on November 1, 2024.
What was Rachel's previous role?
Before joining Bitfarms, Rachel served as General Counsel for CleanSpark, Inc. and co-founded Firm 21m.
How does Bitfarms utilize energy?
Bitfarms primarily uses hydroelectric power and long-term power contracts to run its data centers, demonstrating its commitment to sustainability.
