Bitfarms Ltd. (Nasdaq: BITF), a worldwide bitcoin mining company, has announced the appointment of Ben Gagnon as the new chief executive officer, effective immediately. Gagnon, who previously held the position of chief mining officer, has played a pivotal role in the tremendous growth of Bitfarms over the past five years, according to the company. Chairman Nicolas Bonta commended Gagnon’s exceptional leadership skills and strategic influence, emphasizing plans to capitalize on his expertise in order to expand into areas such as energy generation, heat recycling, energy trading, and high-performance computing (HPC) for artificial intelligence (AI). In the meantime, Riot Platforms is making efforts to acquire Bitfarms, with the aim of merging the two companies and creating the largest publicly traded bitcoin mining entity. This hostile takeover bid involves demands for changes in Bitfarms’ leadership and has prompted Bitfarms to employ a “poison pill” strategy as a defensive measure against Riot’s advances.
