Bitfarms Sells Bitcoin, Pivots to AI Infrastructure

Bitfarms, a Nasdaq-listed company, has started selling its bitcoin holdings, marking a significant shift in its business strategy. The company plans to continue selling its bitcoin over time, with CEO Ben Gagnon stating, "In time, we will have no bitcoin."

Background and Motivation

The decision to sell bitcoin and pivot to AI infrastructure is driven by the company's desire to reduce its exposure to the volatile cryptocurrency market. Bitfarms held 1,827 BTC as of its latest disclosure, according to BitcoinTreasuries.net, and generated $28.2 million in realized gains from bitcoin sales in 2025.

AI Infrastructure and High-Performance Computing

Bitfarms is building out a 2.2 gigawatt development pipeline across North America, spanning sites in Pennsylvania, Washington, and Québec. The company expects this infrastructure to support AI-driven workloads, with revenue contributions targeted to begin in 2027. Artificial intelligence and high-performance computing are key areas of focus for the company.

Benefits of AI Infrastructure

• Steady demand and contracted revenue
• Reduced exposure to cryptocurrency market volatility
• Opportunities for growth and expansion

Corporate Overhaul and Redomiciliation

Shareholders have approved a redomiciliation from Canada to the United States alongside a rebrand to Keel Infrastructure. The transition is expected to close around April 1, with shares set to trade under the ticker KEEL shortly after. The new identity is meant to reflect a business centered on energy and compute infrastructure rather than digital asset production.

Key Takeaways

• Bitfarms is selling its bitcoin holdings and pivoting to AI infrastructure
• The company is building a 2.2 gigawatt development pipeline across North America
• Revenue contributions from AI infrastructure are expected to begin in 2027
• Bitfarms is undergoing a corporate overhaul and rebrand to Keel Infrastructure

Frequently Asked Questions

What is Bitfarms' current bitcoin holding?

Bitfarms held 1,827 BTC as of its latest disclosure.

What is the expected timeline for the corporate overhaul and rebrand?

The transition is expected to close around April 1, with shares set to trade under the ticker KEEL shortly after.