Crypto Miner Bitfarm Plans $161M Bitcoin Sale To Fund AI Pivot, Rebrand As Keel

• Bitfarms will relocate to New York and rebrand as Keel Infrastructure, trading under the ticker KEEL.
• The move will replace its existing listings on Nasdaq and the Toronto Stock Exchange.
• The firm will sell over $160 million in Bitcoin holdings.

Bitfarms Ltd. (BITF) is preparing to rebrand as Keel Infrastructure as it transitions from Bitcoin (BTC) mining to high-performance computing (HPC) and artificial intelligence (AI) infrastructure, with plans to sell $161 million worth of Bitcoin. 

The transition, announced on Tuesday, commences upon shareholder approval of the company's re-domiciliation from Canada to the United States, with completion anticipated around April 1, 2026. 

The firm is set to sell some of its Bitcoin holdings, valued at around $161 million, as part of its broader transition. This will help fund its AI growth plan and show that it is moving its money away from crypto mining and toward digital infrastructure.

KEEL To Relocate And Change Listing

Keel will establish its headquarters in New York City and commence trading under the ticker "KEEL" following the relocation. This listing will replace Bitfarms' current listings on the Nasdaq (NDAQ) and the Toronto Stock Exchange.

Bitfarm’s stock was up by over 4% during early trading hours. On Stocktwits, the retail sentiment around BITF moved from ‘bearish’ to ‘bullish’ as chatter levels around it improved from ‘normal’ to ‘high’ over the past day.

CEO Ben Gagnon said that the company's 2025 expenditures were aimed at preparing for increased demand in AI-driven computing. "HPC/AI's exponential growth requires top-tier infrastructure, and we intend to build to meet that demand," he added, citing significant institutional interest in its power-secured data center properties in Pennsylvania, Washington, and Quebec.

The business has also worked to improve its financial situation by paying off a $100 million lending facility with Macquarie, making its capital structure simpler, and making it easier to get money for future projects.

Bitfarms said it is aggressively moving forward with many development locations and has received important permissions, including zoning clearance for its Panther Creek plant. It has also added more people to its leadership and infrastructure teams to help with the building of massive data centers

Read also: Elon Musk Quips On ‘Plus Side’ Of Quantum Threat After Google Study Raises Fresh Questions On Crypto Security

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