THE END OF AN ERA: BITFARMS EXITING BITCOIN FOR GOOD 🚨
The "Great Mining Pivot" just claimed its biggest name yet. Bitfarms is officially dead. Long live Keel Infrastructure Corp. $KERNEL
In a move that marks the definitive end of its identity as a pure-play miner, the company has confirmed it is liquidating its remaining 1,827 $BTC to fuel a massive bet on Artificial Intelligence. $SIGN
The Strategy: From Rigs to Racks
Bitfarms is no longer interested in the hashprice grind. Instead, they are rebranding to Keel Infrastructure and moving their headquarters to the U.S. to focus on a massive 2.2 GW AI and HPC data center pipeline. $RIVER
The breakdown:
Full Exit: Plans to sell all remaining $BTC (valued at approx. $161M) to fund the transition.
New Identity: Trading under the new ticker $KEEL on the Nasdaq starting April 1.
The Power Play: Leveraging power contracts in Pennsylvania, Washington, and Québec to host "physical AI" infrastructure.
Clean Slate: They’ve wiped $100M in debt to Macquarie, entering this new chapter with over $500M in liquidity.
Why this matters for the market:
We are witnessing a structural shift in the industry. Miners are realizing that their power mandates and land are far more valuable to AI giants than the Bitcoin they produce. With a $209M net loss reported for FY2025, Bitfarms is betting that the "Land and Power" model will provide the stable, long-term yields that mining simply can't guarantee anymore.