Bitfarms Announces the Retirement of Jeff Lucas, Chief Financial Officer, and the Appointment of Jonathan Mir as Successor

Core Viewpoint - Bitfarms Ltd. has appointed Jonathan Mir as Chief Financial Officer, effective October 27, 2025, to support the company's transition to a North American HPC/AI infrastructure company [2][3][4] Company Overview - Bitfarms is a North American energy and digital infrastructure company focused on building and operating data centers and energy infrastructure for high-performance computing and Bitcoin mining [5][6] - The company has a 1.3 GW energy pipeline, with over 80% of its projects based in the U.S., strategically located in areas with strong access to power and fiber infrastructure [5] Leadership Transition - Jonathan Mir brings over 25 years of capital markets experience in energy infrastructure, having previously worked at Lazard Inc. and Bank of America [3][4] - The current CFO, Jeff Lucas, will retire but will remain as a strategic financial advisor until Q1 2026 to ensure a smooth transition [2][4] - CEO Ben Gagnon expressed gratitude for Jeff Lucas's contributions during his tenure, highlighting the company's transformation from an international Bitcoin miner to a U.S.-focused energy and digital infrastructure company [4] Financial Position - Bitfarms currently holds approximately US$330 million in cash and Bitcoin, with an additional US$250 million available for financing its flagship Panther Creek Campus [4] - The company has successfully raised and deployed hundreds of millions of dollars and completed multiple acquisitions, including a significant public M&A deal [4]