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Crypto Miner Exits Bitcoin
Bitfarms announced plans to eliminate bitcoin holdings entirely.
“On its fourth-quarter earnings call, management indicated its intention to eventually sell off all of its BTC holdings”
The company generated $28.2 million in realized gains from bitcoin sales in 2025.
Bitfarms currently holds approximately 1,827 BTC.
The transition includes repurposing infrastructure for HPC and AI workloads.
Financial Challenges Persist
Bitfarms reported a widened net loss of $284.5 million for 2025.
Costs of revenue totaled $248 million, leading to a gross loss.
Bitcoin difficulty increased 58.5% since the last halving event.
Re-Domiciliation and Rebrand
Bitfarms is executing a U.S. re-domiciliation and rebrand to Keel Infrastructure.
“Bitfarms expects to rebrand to Keel Infrastructure on Wednesday”
Shareholders have approved the move.
Keel will operate as a landlord-style infrastructure developer.
Sector-Wide Shift
Bitfarms' transition exemplifies a broader sector trend.
Companies are pivoting away from volatile crypto revenue.
Bitfarms aims to contribute AI-driven revenue beginning in 2027.