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31/03/26 23:22 UTC-04

Bitcoin miner Bitfarms to rebrand amid shift to AI

Canadian mining company Bitfarms plans to complete its U.S. re-registration on April 1 under the name Keel Infrastructure as part of a strategic pivot toward artificial intelligence.

The decision has already been approved by shareholders. Keel will become the new parent company headquartered in New York. The company will continue trading on Nasdaq and Toronto Stock Exchange under the ticker KEEL, which will soon replace BITF.

In November 2025, Bitfarms announced a gradual wind-down of Bitcoin mining operations and a shift toward AI infrastructure development.

As of March 27, the company held approximately $161 million worth of Bitcoin (around 2,400 BTC), representing a significant portion of its $520 million in liquid reserves. Its crypto treasury had grown from 1,827 BTC at the end of Q3.

During the earnings call, CEO Ben Gagnon stated that the company intends to “take advantage of favorable market opportunities” to sell part of its Bitcoin holdings. The proceeds will be reinvested into high-performance computing and AI infrastructure.

According to the report, the company’s energy portfolio totals 2.2 GW across North America:
341 MW operational,
430 MW contracted,
and approximately 1.5 GW under development.

Data from TheEnergyMag shows that the average cost of mining one BTC in Q4 was about $89,500.

For 2025, the company reported a net loss of $284 million, despite a 72% increase in revenue to $229 million. The losses were mainly driven by non-cash revaluation of crypto assets. Realized gains from Bitcoin sales exceeded $28 million.

Previously, CoinShares reported that around 20% of miners capitulated in Q4.

See also: "Global markets rise on ceasefire signals from Trump and Iran"

#Mining #AI

Editor: Pereyidenko Ihor
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