Bitfarms Advances Exit From Bitcoin as It Reallocates Toward AI

Bitfarms is accelerating its pivot away from bitcoin, confirming it is actively selling portions of its BTC holdings and redirecting proceeds into AI-focused data center infrastructure.

The company booked $28.2 million in realized gains from bitcoin sales in 2025, indicating ongoing disposals. While it has not disclosed the exact amount sold, management signaled that additional sales are likely. According to BitcoinTreasuries.net, Bitfarms currently holds 1,827 BTC.

CEO Ben Gagnon said the company plans to eventually eliminate its bitcoin exposure. Speaking on the fourth-quarter earnings call, he noted that sales will be executed opportunistically during periods of market strength, while mining operations will continue in the near term to maximize cash generation before a phased wind-down.

The strategy reflects a broader shift across the mining industry, as companies increasingly repurpose energy and infrastructure assets for high-performance computing and AI workloads.

Bitfarms is building out a 2.2-gigawatt development pipeline across North America and is targeting initial AI-driven revenue by 2027, according to its full-year 2025 results.

The company is also undergoing a corporate overhaul, with shareholders approving a U.S. re-domiciliation and a rebrand to Keel Infrastructure. The transition is expected to close around April 1, 2026, with shares set to trade under the ticker KEEL.

BITF shares gained 4.6% on Tuesday, in line with broader strength in AI infrastructure stocks.