Cryptocurrency mining firm Bitfarms has appointed Ben Gagnon as its Chief Executive Officer in a move the company said marks a new chapter as it seeks to expand and diversify its operations beyond Bitcoin mining.

Gagnon, formerly Chief Mining Officer, has reportedly been a key player in Bitfarms' rise within the Bitcoin mining industry. With his extensive experience, he is expected to lead the company towards new growth opportunities.

Bitfarms Targets New Opportunities

Under Gagnon’s leadership, Bitfarms plans to explore new areas such as energy generation, heat recycling, energy trading, and high-performance computing for artificial intelligence. During his tenure as the Chief Mining Officer, Ben reportedly played a significant role in the development of Bitfarms’ growth plan.

Expressing his enthusiasm about the new role, Gagnon emphasized the transformational nature of the past year for Bitfarms and highlighted the strategic planning for the upcoming 2028 Bitcoin halving event as a key focus.

"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 our objectives," Gagnon said.

Rising Through the Ranks

His career at Bitfarms began in 2019 as Director of Business Development. He quickly rose through the ranks, taking on roles such as Director of Mining Operations and Chief Mining Officer. Gagnon's experience spans various aspects of mining strategy, operations, and technology integration.

Prior to Bitfarms, Gagnon founded and operated two Bitcoin mining companies and held executive roles in the industry. He holds an MSc. in Internet Computing from Hong Kong University and a BSc. in Economic Consulting and International Business from Indiana University.

Since its launch in 2017, Bitfarms has grown to operate 12 Bitcoin data centers across four countries, and two more are under development. The company is known for its commitment to sustainability, using predominantly hydroelectric power and long-term power contracts to run its operations.