Bitfarms have been going through an upheaval of late as Pierre-Luc Quimper, its president and co-founder, quit in October. Along with Quimper, VPs Anthony Levesque and Louis Valois, and public relations head Bahador Zabihiyan also departed the company.
Quimper, in an emailed statement to The Canadian Press, said: “We built up that great infrastructure together with the three other founders. We hired Wes to help implement our vision. At some point, my vision as an entrepreneur and businessman was different from Wes’ vision, who has a traditional banking background.”
Wes Fulford, Bitfarms’ Toronto-based CEO, said any talk of conflict with Wes is just “business gossip.” But his portrayal of Quimper’s leaving suggested a clash of personalities. “He’s never had a boss. He’s never had a board of directors,” Fulford said of his former business partner, Quimper. “He’s been involved in growing small companies. We are now a much larger, professionally traded organization, and you can read into that what you like.”
Along with the departures comes news that residents living near the company’s operations in Sherbrooke, Quebec, are complaining of the noise originating from its operations is unbearable.
To address the concerns of its neighbors and restore peace to local neighborhoods, the firm proposed to build a 23-meter wall outside its Sherbrooke factory. The company would renovate inside the factory to help muffle the sound from the ventilators. Residents along the Magog River remains skeptical.
Marcel Cyr, who lives across the river from Bitfarms, told The Canadian Press in a recent phone interview, “They say they are acting in good faith, and, in the beginning, we believed them. But we no longer believe them. How can we?” Despite complaints, the company has only increased its capacity and announced a further expansion.
“We expect significant improvement versus what the residents are allegedly complaining about today,” Fulford said,…