Darius Baruo
Oct 14, 2025 07:16
Bitfarms Ltd. announces the retirement of CFO Jeff Lucas and the appointment of Jonathan Mir, as the company pivots towards HPC/AI infrastructure in North America.
Bitfarms Ltd. (Nasdaq/TSX: BITF), a leading North American energy and digital infrastructure company, has announced a significant leadership change as part of its strategic pivot towards high-performance computing (HPC) and artificial intelligence (AI) infrastructure. According to GlobeNewswire, Jeff Lucas, the current Chief Financial Officer (CFO), will retire, and Jonathan Mir will succeed him, effective October 27, 2025.
Leadership Transition
Jeff Lucas, who has been instrumental in Bitfarms’ transformation from an international Bitcoin miner to a U.S.-focused energy and digital infrastructure company, will remain involved as a strategic financial advisor through the first quarter of 2026 to ensure a seamless transition. Lucas expressed confidence in the future growth of Bitfarms, highlighting the company’s solid financial footing with approximately $330 million in cash and Bitcoin, as well as access to $250 million in additional financing.
Jonathan Mir’s Expertise
Jonathan Mir brings over 25 years of capital markets experience, particularly in energy infrastructure. His previous roles include Head of North American Power, Energy & Infrastructure at Lazard Inc., and Managing Director in Bank of America’s Natural Resources and Energy Transition group. Mir’s extensive experience in public and private equity and debt financings is expected to be pivotal as Bitfarms executes its transition to a North American HPC/AI infrastructure company.
Strategic Focus on HPC/AI
Under the leadership of CEO Ben Gagnon, Bitfarms is focusing on expanding its HPC/AI infrastructure projects across key locations in Pennsylvania, Quebec, and Central Washington. The company’s 1.3 GW energy pipeline is predominantly U.S.-based, aligning with its strategy to leverage robust power and fiber infrastructure in data center hotspots.
Gagnon expressed enthusiasm about Mir joining the team, citing his deep sectoral knowledge and capital markets experience as invaluable assets for Bitfarms’ next growth phase. The company aims to capitalize on emerging opportunities in the HPC/AI sector while maintaining its legacy in Bitcoin mining.
About Bitfarms
Founded in 2017, Bitfarms has established itself as a leader in digital infrastructure, operating vertically integrated data centers and energy infrastructure for high-performance computing and Bitcoin mining across the Americas. Headquartered in New York and Toronto, Bitfarms is publicly traded on both the Nasdaq and Toronto Stock Exchange.
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