High-Performance Computing & AI Infrastructure / Digital Assets
Strategic Profile
CEO Ben Gagnon said the move positions the company to better access U.S. capital markets while accelerating development of AI and HPC-focused data center infrastructure across North America, describing the firm as an infrastructure developer and operator serving future AI and compute demand. The company filed plans to redomicile to the U.S. and rebrand as Keel Infrastructure with a special meeting scheduled for March 20, 2026, with completion targeted on or about April 1, 2026.
Cyborg Score Rationale
Bitfarms reported about $698 million in net liquidity as of Feb. 5, comprised mostly of unrestricted cash and some bitcoin holdings. The company is executing a high-conviction pivot from commoditized mining to high-margin AI/HPC infrastructure, backed by substantial capital deployment and strategic U.S. redomiciliation.
Top Insights
Bitfarms announced plans to convert its 18 MW Washington bitcoin mining site to HPC/AI workloads, targeting completion in December 2026.
Management noted available liquidity near $1 billion and plans to pursue GPU-as-a-Service and cloud monetization at Washington while winding down bitcoin mining in 2026–2027.
Bitfarms is reported to hold 1,827 BTC on their balance sheet.
Bitfarms completed its exit from Latin America and rebalanced its energy assets to 100% North American.
Named Competitors
GPU Infrastructure as a Service — Cloud GPU infrastructure for AI workloads