Bitfarms has promoted its chief mining officer Ben Gagnon to CEO to avoid the possibility of a takeover while conducting a strategic review of its next moves. The company on Monday launched a website aimed at clarifying what Bitfarms previously called "poor corporate governance practices". Bitfarms has always maintained that its directors are "committed to acting in the best interests of the company and all of its shareholders". A spokesperson noted that the company's special committee of independent directors is currently conducting a "strategic alternatives review process to thoroughly evaluate all opportunities to maximize shareholder value". Gagnon joined Bitfarms in 2019 as Director of Business Development. He subsequently became the company's Director of Mining Operations and Chief Mining Officer in 2020 and 2021, respectively. "Looking ahead to the next four years and the company's strategic path, I am encouraged by the great potential ahead and confident that we have the right team in place to achieve our goals," Gagnon said in a statement.