Bitfarms Ltd.

Greetings. Welcome to the BITFARM's first quarter 2024 financial results conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Tracy Krumme. You may begin.

Thank you. Good morning, everyone, and welcome to Bitfarm's first quarter 2024 conference call. With me on the call today is Nico Bonta, Interim Chief Executive Officer, Jeff Lucas, Chief Financial Officer, and Ben Gagnon, Chief Mining Officer. Before we begin, please note that this call is being webcast with an accompanying presentation. Today's press release and our presentation can be accessed at our website, bitfarms.com under the investor section. Turning to slide two, I'll remind everyone that certain forward-looking statements will be made during the call and that future results could differ from those implied in the statement. The forward-looking information is based on certain assumptions and is subject to risks and uncertainties, and I invite you to consult Bitfarms MD&A for a complete list. Please note that references will be made to certain measures not recognized under IFRS and therefore may not be comparable to similar measures presented by other companies. We invite listeners to refer to today's press release and our MD&A for definitions of the aforementioned non-IFRS measures and their reconciliations to IFRS measures. Please note that all financial references are denominated in U.S. dollars unless otherwise noted. I would also like to add that we will be attending the following upcoming equity conferences. The B. Riley Securities Institutional Investor Conference in Beverly Hills, California, on May 22nd and May 23rd, and the Northland Growth Conference, which is virtual, on June 25th. If anyone is interested in meeting with us on those dates, please reach out to me or a sales representative from those firms. And now, it is my pleasure to turn the call over to Nico Bonta, Chairman, Co-Founder, and Interim CEO. Nico, please go ahead.

Thank you, Tracy, and thank you, everyone, for joining us today. For those of you who might not know me, I founded the company along with Board Director Emiliano Groschi in 2017 and have served as Chairman of the Board since. As you will recall, on March 25, we announced a CEO transition whereby Jeff Murphy would remain CEO until we concluded our executive search. However, his departure has now been expedited due to a legal claim against the company brought by Jeff on Friday, May 10. This also caused us to reschedule our earning calls in order to provide time to incorporate the required subsequent events into our filings. Jeff claimed included damages for breach of contract, wrong dismissal, and aggravated and punitive damages in the amount of $27 million. The company believes the claims are without merit and intends to defend itself vigorously. As a result, Jeff's termination was accelerated and I stepped as interim CEO until the conclusion of our CEO search. which we expect to occur in the next several weeks. Importantly, I would like to emphasize my confidence in the strong leadership team we have built, the significant opportunities ahead of us, and dedication of our employees to meet our growth targets this year. We expect minimal disruption from the CEO transition. Our 2024 growth plans will not be impacted We are moving full steam and ahead and expect to achieve our previously stated guidance of 12 exahash in Q2 and 21 exahash in Q4. Now turning to slide four, I am pleased to turn the call over to Ben, our chief mining officer, who will discuss our Q1 results, updates, and our growth plan and exciting outlooks for the year ahead.