Bitfarms Boosts Leadership with New Operational Changes

Bitfarms Strengthens Operations Team

-Alex Brammer appointed Senior Vice President of Global Mining Operations-

-Benoit Gobeil named Chief Infrastructure Officer-

-Mining Operations divided into Infrastructure and Mining Operations divisions-

TORONTO, Ontario and BROSSARD, Québec -- Bitfarms Ltd. (NASDAQ: BITF; TSX: BITF) is excited to share recent developments that will enhance its Operations teams. The company has made strategic changes to drive growth and efficiency in their Bitcoin mining operations.

In a significant move, Alex Brammer has been appointed as the Senior Vice President of Global Mining Operations. With extensive experience and a solid track record in the field, Brammer aims to boost miner performance and manage upgrades across Bitfarms' global portfolio of assets. Along with him, Benoit Gobeil, previously holding the position of Executive Vice President of Operations and Infrastructures, has been elevated to Chief Infrastructure Officer.

New Divisions for Enhanced Operations

Bitfarms has restructured its Mining Operations into two distinct divisions: Infrastructure and Mining Operations. This change is intended to improve scalability and accountability within data center construction and operations, setting the groundwork for future advancements in High-Performance Computing (HPC) and Artificial Intelligence (AI) capabilities.

As the head of the Mining Operations division, Brammer will oversee all operational aspects targeting a substantial increase in hashrate and performance. Gobeil, leading the Infrastructure division, will focus on site construction, upgrades, and maintenance activities, working closely with Brammer to maximize operational efficiency.

Ben Gagnon, CEO of Bitfarms, expressed his confidence in the newly appointed leaders, stating that both Brammer and Gobeil possess the skills necessary to help the company achieve its growth targets, including a plan to double operational capacity in the year ahead.

Leadership Backgrounds and Expertise

Alex Brammer’s background is noteworthy; he brings 20 years of international operations experience in mining. He has previously made headlines with his leadership in a U.S. energy producer's endeavor into Bitcoin mining, notably building a groundbreaking Bitcoin mine powered entirely by nuclear energy. His experience also includes significant roles in business development at Luxor Technology Corporation.

Prior to his mining career, Brammer dedicated 16 years to the U.S. Army, where he held various leadership positions and displayed remarkable operational capabilities. His educational credentials are equally impressive, holding a Bachelor’s degree in Economics from West Point and nearing completion of an MBA from the University of Chicago Booth School of Business.

Benoit Gobeil, with a robust tenure at Bitfarms since 2018, has been instrumental in executing the company’s transformational growth plan. His technical engineering expertise has supported Bitfarms' commitment to innovation in the mining sector.

Commitment to Sustainable Mining

Bitfarms, recognized for its environmentally friendly approach, operates data centers primarily powered by hydroelectric energy. This focus aligns with global trends towards sustainable mining practices and positions Bitfarms favorably within the industry.

The company boasts 12 operational Bitcoin data centers with two more under development across multiple countries. Bitfarms' strategy emphasizes utilizing sustainable energy sources, ensuring it remains at the forefront of the mining sector.

As the company embarks on this new chapter, both Brammer and Gobeil are poised to drive Bitfarms towards achieving record growth and enhancing operational efficiencies that will be vital for the future of the company. Their complementary skills will be crucial in navigating upcoming challenges in an evolving digital currency landscape.

Frequently Asked Questions

What recent changes were made at Bitfarms?

Bitfarms has appointed Alex Brammer as Senior Vice President of Global Mining Operations and promoted Benoit Gobeil to Chief Infrastructure Officer, splitting mining operations into two divisions.

How will these changes impact Bitfarms’ operations?

The restructuring aims to improve scalability and operational accountability, supporting increased efficiency in mining and preparing for future innovations.

What are the backgrounds of the new leaders at Bitfarms?

Alex Brammer brings two decades of mining experience and military leadership, while Benoit Gobeil has been with Bitfarms since 2018, focusing on infrastructure development.

How many data centers does Bitfarms operate?

Bitfarms operates 12 Bitcoin data centers with two additional facilities under development across various countries.

What sustainable practices does Bitfarms follow?

Bitfarms primarily utilizes hydroelectric power for its operations, emphasizing eco-friendly practices in the cryptocurrency mining industry.

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