Bitfarms names ex-Lazard banker Jonathan Mir CFO amid AI data-center pivot and 5x stock rally

Nasdaq-listed Bitfarms (ticker BITF) has appointed Jonathan Mir as chief financial officer, succeeding Jeff Lucas, who will retire later this month after four years with the company. Lucas will remain on as a strategic advisor through early 2026.

Mir, who built his career advising major energy and infrastructure projects at Lazard and Bank of America, joins Bitfarms as it seeks to finance large-scale data-center developments tied to AI and high-density computing.

CEO Ben Gagnon said Mir’s deep energy-sector experience “will bring tremendous value as we execute our AI growth strategy in Pennsylvania, Quebec, and Central Washington.”

The appointment extends Bitfarms’ shift from a pure bitcoin miner toward a broader compute-infrastructure business, a pivot that's been gaining traction across the sector.

Canaan (CAN) recently launched a flared-gas-powered compute pilot in Alberta to support bitcoin and AI workloads, while Galaxy Digital raised a further $460 million in a push to convert its former Helios mine in Texas into a large-scale data center for CoreWeave, an AI-cloud provider.

Analysts at Morgan Stanley have described bitcoin mining sites as offering “the fastest time to power with the lowest execution risk” for AI players — a dynamic Bitfarms aims to capture as it redeploys its 1.3-gigawatt energy pipeline.

Bitfarms shares have climbed more than fivefold in the past six months as investors pile into AI-linked compute plays. The stock reached an almost five-year high of $5.90 on Monday before easing back to around $5.38 today, according to The Block price data.