Bitfarms to Rebrand Amid Shift to AI

Bitfarms plans to rebrand as Keel Infrastructure, shifting focus to AI.

Canadian mining company Bitfarms plans to complete its re-registration in the United States under the name Keel Infrastructure on April 1, as part of a strategic pivot towards artificial intelligence.

Don’t miss our FY 2025 earnings call this morning:
Date: March 31, 2026
Time: 8:00 AM ET
Webcast Link: https://t.co/nwbussh0DV

See our FY results here: https://t.co/h3RA2cYgGL

— Bitfarms (@Bitfarms_io) March 31, 2026

The decision was previously approved by a shareholders’ meeting. Keel will become the new parent company headquartered in New York. The company will continue to trade on Nasdaq and the Toronto Stock Exchange under the ticker KEEL, which will replace the current BITF designation in the coming days.

In November 2025, Bitfarms announced a gradual winding down of its cryptocurrency mining operations to focus on developing AI infrastructure.

As of March 27, the company held bitcoin valued at $161 million, or approximately 2400 BTC. These assets constituted a significant portion of its liquid reserves, totaling $520 million. In recent months, the firm increased its crypto treasury, which stood at 1827 BTC by the end of the third quarter.

However, during the annual financial report conference call, Bitfarms CEO Ben Gagnon stated that the company intends to “take advantage of favorable market opportunities” to sell its bitcoins. The proceeds will be invested in “high-performance computing and artificial intelligence infrastructure.”

According to Bitfarms’ report, its energy portfolio includes 2.2 GW of capacity in North America. Of this, 341 MW are operational projects, 430 MW are guaranteed supplies, and about 1.5 GW are at various stages of development, including the earliest phases.

As reported by TheEnergyMag, in the fourth quarter, the average cost of mining 1 BTC for the company was approximately $89,500.

In 2025, Bitfarms incurred a net loss of $284 million. However, revenue increased by 72% compared to the previous period, reaching $229 million.

The negative financial results were primarily attributed to a non-cash revaluation of crypto reserves. The realized profit from bitcoin sales throughout the year exceeded $28 million.

Earlier, CoinShares analysts reported a capitulation of 20% of miners by the end of the fourth quarter.