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

Jonathan Mir brings 25+ years’ capital markets experience in energy infrastructure

This news release constitutes a “designated news release” for the purposes of the Company’s second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.

TORONTO and NEW YORK, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF) (the “Company”), a North American energy and digital infrastructure company, today announced the appointment of Jonathan Mir as Chief Financial Officer, effective October 27^th, 2025. Bitfarms’ current CFO, Jeff Lucas, will be retiring, and will remain on as a strategic financial advisor and consultant to the Company through Q1 2026 to ensure a smooth transition.

Jonathan Mir is a global financial and strategic executive with more than 25 years of capital markets experience in energy infrastructure. Jonathan spent most of his career at Lazard Inc., where he served as Head of North American Power, Energy & Infrastructure. Most recently, Jonathan was a Managing Director in Bank of America’s Natural Resources and Energy Transition group. Jonathan’s multi-decade expertise in public and private equity and debt financings for major infrastructure companies and projects will prove invaluable as the company executes on its transition to a North American HPC/AI infrastructure company. At Bitfarms, he will employ his extensive financial and capital markets expertise to help drive the company’s HPC/AI infrastructure projects and its North American pivot from Bitfarms NYC office.

CEO Ben Gagnon stated, “The entire Bitfarms team is enormously grateful to Jeff for the invaluable contributions he has made to our Company over the last four years. Jeff has played an integral role in our transition from an international Bitcoin miner to the U.S.- focused energy and digital infrastructure company we are today, and we wish him all the best. I am excited to have Jonathan, an impressive financial executive with extensive energy infrastructure-focused capital markets experience, join us as we execute on our HPC/AI growth strategy in Pennsylvania, Quebec and Central Washington. Jonathan’s deep sectoral knowledge will bring tremendous value to Bitfarms as we embark on this next chapter of our development.”