Bitfarms Selects Ben Gagnon as Chief Executive Officer.

Bitfarms has selected Ben Gagnon as the new Chief Executive Officer.

Takeaway Points

  • Bitfarms has selected Ben Gagnon as the new Chief Executive Officer.
  • This will take effect immediately.
  • Mr. Gagnon started his career at Bitfarms as Director of Business Development in 2019.

Who did Bitfarms Appoint as the New CEO? 

Bitfarms Ltd., a global integrated Bitcoin data center company, announced on Monday that the Board of Directors has selected Ben Gagnon, who was formerly the Chief Mining Officer, as the new Chief Executive Officer. This will take effect immediately. 

Nicolas Bonta, Chairman of the Board of Directors, said that “Ben is a seasoned leader with significant experience in Bitcoin mining, and we are thrilled to appoint someone of his caliber as the Company’s next CEO. Over the last five years, Ben has been a vital member of the Bitfarms leadership team and has been instrumental in positioning the Company to drive organic growth and capture a greater share of the global demand for Bitcoin.” 

Edie Hofmeister, Chair of the Independent Search Committee of the Board of Directors, said in a comment that “The Board is confident that Ben is the right person to lead Bitfarms in this next chapter. During his tenure as Chief Mining Officer, Ben played a significant role in the development of Bitfarms’ growth plan, positioning the Company to drive significant value creation. We look forward to benefiting from his leadership as we continue to capitalize on growth opportunities and further global expansion with an emphasis on the U.S.”

Mr. Gagnon, the newly appointed CEO, said, “I am honored to be appointed CEO and am excited for the opportunity to lead and work alongside such a talented team. This has been a transformational year for the Company, and I am encouraged about the future as we begin planning and implementing strategies for the 2028 halving event, while simultaneously evaluating potential HPC/AI opportunities. As I look to the next four years and the Company’s strategic path, I am encouraged by the tremendous potential ahead and am confident that we have the right team in place to execute on our objectives.”

About Ben Gagnon

According to Bitfarm, Mr Gagnon started his career at Bitfarms as Director of Business Development in 2019 and was promoted to Director of Mining Operations in 2020 and Chief Mining Officer in 2021. In his various roles at the company, Ben has been responsible for mining strategy and operations, including growth strategies, mining economics, miner portfolio management, and evaluation and integration of new technologies. He has worked intimately with every department in the Company. Prior to joining Bitfarms, Mr. Gagnon founded and operated two Bitcoin mining companies, holding roles as Chief Executive Officer, Chief Mining Officer, and Chief Technology Officer. 

About Bitfarms Ltd. 

Founded in 2017, Bitfarms is a global Bitcoin data center company that contributes its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated data centers with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The company’s proprietary data analytics system delivers best-in-class operational performance and uptime.

Bitfarms currently has 12 operating Bitcoin data centers and two under development, situated in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

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