Ben Gagnon, the 37-year-old former chief mining officer of Bitfarms, is leading a bold transformation from Bitcoin mining to AI data centers. In late 2023, Gagnon realized Bitfarms' true value lay in its power supplies rather than its mining operations. Inspired by a deal between Core Scientific and CoreWeave in March 2024, he envisioned converting Bitfarms' facilities into AI data centers, a move he called the "big aha moment."
Bitfarms was in turmoil at the time, facing a hostile takeover bid from Riot Platforms and legal battles with its former CEO. Gagnon took over as CEO in July 2024 and successfully negotiated a truce with Riot. He then spearheaded the company's pivot to an energy infrastructure play supporting AI and high-performance computing. In April 2026, Bitfarms rebranded as Keel Infrastructure and moved its domicile from Canada to the U.S.
Gagnon's career has been marked by unconventional ventures, from mining Bitcoin in remote oil patches to rehabilitating energy sites for AI. He initially missed the Bitcoin boom as a college student but later built Ethereum mines in Taipei and Guangzhou. His innovative approach to using flared natural gas in Alberta's oil patch proved successful for Bitfarms.
Gagnon's vision for Keel Infrastructure focuses on providing stable, long-term leases for AI data centers, a stark contrast to the volatility of Bitcoin mining. His whimsical "Captain Keel" persona reflects his nautical-themed strategy, aiming to steer the company through turbulent waters into a lucrative future.