Bitfarms Initiates Major Strategic Pivot Away from Bitcoin Mining

Cryptocurrency infrastructure firm Bitfarms (BITF) has confirmed its ongoing exit from the Bitcoin business. The company is actively liquidating its BTC holdings to redirect capital toward developing AI-focused data centers.

This transformation signals a broader corporate restructuring, moving the focus entirely away from traditional cryptocurrency mining operations. Management detailed these intentions during the company's recent fourth-quarter earnings call.

Phased Sale of Bitcoin Holdings Confirmed

Bitfarms has already realized significant gains from these disposals, generating $28.2 million in realized gains from Bitcoin sales throughout 2025. While the exact quantity of coins sold remains undisclosed, the company has made its long-term plan clear.

CEO Ben Gagnon stated on Tuesday’s earnings call, "In time, we will have no bitcoin.” He elaborated that the company plans to sell BTC "opportunistically into strength."

The immediate strategy involves continuing current mining operations to "maximize free cash flow before selling the miners.” This indicates a gradual wind-down rather than an immediate, total liquidation of assets.

Focus Shifts to AI and HPC Infrastructure

The capital redeployment is targeting a substantial 2.2 gigawatt (GW) development pipeline for AI and High-Performance Computing (HPC) data centers across North America. This move aligns with a growing industry trend of repurposing energy infrastructure for advanced AI workloads.

Bitfarms is targeting the commencement of AI-driven revenue streams beginning in 2027, as outlined in its 2025 full-year results. This timeline reflects the significant development required for the new infrastructure.

Corporate Rebranding and U.S. Re-domiciliation

Alongside the operational shift, Bitfarms is undergoing a structural change. Shareholders have approved a re-domiciliation to the United States and a complete rebrand.

The company is set to become Keel Infrastructure, with trading expected under the new ticker symbol KEEL. This change is anticipated to be finalized around April 1, 2026.

Market Context Note

In related financial news, as March concluded, Bitcoin was positioned to end the month down approximately 1%. This performance puts it on track to match a rare occurrence of a six-month losing streak, which has only happened on one other occasion.