Bitfarms will rebrand as Keel Infrastructure on April 1, shifting focus to AI and reducing Bitcoin mining operations.
Bitfarms, a Canadian cryptocurrency mining firm, is set to rebrand itself as Keel Infrastructure on April 1, following a strategic shift toward artificial intelligence. This change was approved in a recent shareholder meeting, with the new company being based in New York City.
Keel Infrastructure will trade on both Nasdaq and the Toronto Stock Exchange under the ticker symbol KEEL, replacing the previous BITF designation. This rebranding comes after Bitfarms announced in November 2025 its plans to gradually reduce its Bitcoin mining operations in favor of developing AI infrastructure.
As of March 27, Bitfarms held Bitcoin valued at $161 million, equating to approximately 2400 BTC, which forms a significant part of its total liquid reserves of $520 million. The company's crypto treasury has grown, with 1827 BTC reported at the end of the third quarter.
During a recent earnings call, CEO Ben Gagnon expressed the company's intention to leverage favorable market conditions to sell its Bitcoin holdings. The funds raised will be redirected to enhancing high-performance computing and AI infrastructure.
Bitfarms' energy portfolio boasts a total capacity of 2.2 GW across North America, with 341 MW currently operational and 430 MW secured from various projects. The company is also developing around 1.5 GW in additional capacity.
In terms of financial performance, Bitfarms recorded a net loss of $284 million for 2025, although revenue surged by 72% to reach $229 million. The losses were largely due to a non-cash revaluation of crypto assets, despite the company realizing over $28 million in gains from Bitcoin sales throughout the year.
It is also noteworthy that a report from CoinShares indicated a 20% decrease in miner activity as of the end of the fourth quarter, highlighting challenges in the industry.
