Bitfarms Ltd (Nasdaq: BITF), a global bitcoin mining company, has appointed Ben Gagnon as chief executive officer (CEO), effective immediately.
Gagnon, previously chief mining officer, has significantly contributed to Bitfarms’ growth over the past five years, the company said.
Chairman Nicolas Bonta praised his leadership and strategic impact, highlighting plans to leverage Gagnon’s expertise to diversify into energy generation, heat recycling, energy trading, and high-performance computing (HPC) for artificial intelligence (AI).
Meanwhile, Riot Platforms is attempting to acquire Bitfarms, aiming to merge and create the largest publicly listed bitcoin miner.
This hostile takeover attempt includes calls for changes in Bitfarms’ leadership and has led Bitfarms to adopt a “poison pill” strategy to fend off Riot’s advances.
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