Bitfarms Appoints Jonathan Mir as New CFO to Drive North American Growth

Bitfarms Ltd. (Nasdaq/TSX: BITF), a key player in North American energy and digital infrastructure, has announced the appointment of Jonathan Mir as its new Chief Financial Officer, effective October 27, 2025. The company's outgoing CFO, Jeff Lucas, will retire but remain on board as a strategic advisor through Q1 2026 to ensure a seamless transition in managing investments and overseeing the company's investment portfolio.

Leadership Transition to Support Growth

Jonathan Mir brings more than 25 years of expertise in capital markets and investment analysis, with a particular focus on energy infrastructure. He previously held leadership roles at Lazard Inc. as Head of North American Power, Energy & Infrastructure and most recently as Managing Director at Bank of America’s Natural Resources and Energy Transition group. Mir’s experience in public and private equity, as well as debt financing for large infrastructure projects, will be essential as Bitfarms focuses on its transition toward high-performance computing (HPC) and AI infrastructure across North America.

Mir will use his extensive background to drive Bitfarms’ growing presence in HPC/AI projects from the company’s NYC office.

Comments from Company Leadership

Ben Gagnon, CEO of Bitfarms, expressed his gratitude to retiring CFO Jeff Lucas for his significant contributions, especially in transforming Bitfarms from an international Bitcoin miner into a U.S.-focused digital infrastructure firm. Gagnon is confident that Jonathan Mir's deep sectoral knowledge and investment analysis experience will be vital as the company executes its HPC/AI growth strategy in Pennsylvania, Quebec, and Central Washington.

Jeff Lucas reflected on his four-year tenure, highlighting Bitfarms’ operational expansion across four countries, major acquisitions, and its transformation into a leader in the HPC/AI infrastructure space. Lucas emphasized the strong financial position of the company, with approximately $330 million in cash and Bitcoin, and up to $250 million in additional financing available for the Panther Creek Campus. He expressed confidence in the company’s long-term market performance and growth under the new leadership.

About Bitfarms Ltd.

Founded in 2017, Bitfarms Ltd. operates state-of-the-art, vertically integrated data centers and energy infrastructure supporting both high-performance computing and Bitcoin mining. The company’s energy pipeline of 1.3 GW is now over 80% concentrated in the U.S., particularly in major data center hubs with reliable power and fiber infrastructure. Bitfarms is headquartered in New York and Toronto, with operations throughout the Americas and is listed on both the Nasdaq and the Toronto Stock Exchange.

Forward-Looking Statements and Investment Risks

This release includes forward-looking statements about Bitfarms’ growth opportunities, leadership transitions, market performance, and strategic initiatives. Actual results could differ significantly due to various investment risks, including infrastructure expansion challenges, digital asset market volatility, regulatory changes, and factors tied to energy sourcing and environmental compliance. Prospective investors should carefully consider these risks when managing investments or making decisions about their investment portfolio. For a complete review of these risks, consult Bitfarms’ latest filings on relevant securities regulators’ websites.

This content is for informational purposes only and does not constitute financial advice.