Bitfarms pivots to AI, rebrands as Keel Infrastructure
7 Investments Bitfarms is moving to the U.S., rebranding as Keel Infrastructure, and shifting from bitcoin mining to AI and HPC data centers. The move, pending approvals, led to an 18% stock surge and targets the expanding AI sector.
Bitfarms has announced a significant strategic transformation, relocating its headquarters from Canada to the United States and rebranding as Keel Infrastructure. The company is exiting the bitcoin mining sector to focus on developing data centers for artificial intelligence (AI) and high-performance computing (HPC) workloads. This transition, pending shareholder, regulatory, and court approvals, includes a shareholder vote on March 20 and is expected to close by April 1. The new parent company, Keel Infrastructure, will be incorporated in Delaware and listed on both the Nasdaq and Toronto Stock Exchange under the symbol KEEL. Bitfarms also plans to fully repay its $300 million debt facility to strengthen its balance sheet for future HPC projects. Following the announcement, Bitfarms' stock surged by up to 18%, reflecting investor confidence in the new direction. The company emphasized its shift from Bitcoin mining to becoming an infrastructure-first developer for HPC and AI data centers across North America.
