Bitfarms has appointed Ben Gagnon as its new CEO amid a contentious battle with rival Riot over control of its Bitcoin-mining (CRYPTO:BTC) operations.

Gagnon, previously Bitfarms' chief mining officer, steps into the role immediately to lead the company's global expansion, particularly focusing on enhancing operations in the U.S.

The decision follows Riot's recent campaign aimed at influencing Bitfarms' corporate governance, as the two companies continue to clash over strategic direction.

Riot had previously attempted a hostile takeover of Bitfarms, prompting defensive measures from the latter, including threats to dilute shares.

Both companies' stocks remained stable amid the ongoing dispute, with Riot trading at $9.60 and Bitfarms at $2.70.