Bitfarms targets zero bitcoin on the balance sheet as it pivots to AI

The company is actively selling bitcoin and redeploying capital into AI-focused data centers as part of a broader transformation away from mining.

What to know:

• After selling some of its bitcoin holdings in 2025, Bitfarms (BITF) reportedly still holds 1,827 coins.
• On its fourth-quarter earnings call, management indicated its intention to eventually sell off all of its BTC holdings.
• The company is pivoting away from bitcoin mining towards a 2.2 GW AI and HPC data center pipeline, alongside a U.S. re-domiciliation and rebrand to Keel Infrastructure.

Bitcoin miner Bitfarms (BITF) continued its exit from the bitcoin business, confirming it has already begun selling portions of its holdings, with plans to continue doing so as it pivots toward AI infrastructure.

The company generated $28.2 million in realized gains from bitcoin sales in 2025, signaling active disposals during the year. While the company has not disclosed the exact number of coins sold, management made clear that further sales are planned. According to BitcoinTreasuries.net, Bitfarms currently holds 1,827 BTC.

"In time, we will have no bitcoin,” said CEO Ben Gagnon on the company's fourth-quarter earnings call Tuesday. He added that Bitfarms will sell bitcoin “opportunistically into strength” and is continuing to run mining operations to “maximize free cash flow before selling the miners.” The approach points to a gradual wind-down rather than an immediate liquidation.

The shift reflects a broader trend across the bitcoin mining sector, where companies are repurposing energy infrastructure for high-performance computing and AI workloads. Bitfarms is advancing a 2.2 gigawatt development pipeline across North America and targeting AI-driven revenue beginning in 2027, according to its 2025 full-year results.

The company is also undergoing a structural shift, with shareholders approving a U.S. re-domiciliation and rebrand to Keel Infrastructure (KEEL), expected to close around April 1, 2026, with shares set to trade under the ticker KEEL.

BITF shares are higher by 4.6% on Tuesday alongside a general rally in the AI infrastructure stocks.

More For You

As stablecoins evolve into core financial infrastructure, North America leads. This report maps the regulation, market shifts, and players driving adoption.

Why it matters:

Stablecoins are entering their third phase of evolution - the institutionalization era - becoming increasingly embedded into core financial infrastructure. As institutions prioritize transparency and compliance, regulated issuers like USDC, RLUSD, and PYUSD are steadily gaining share with RLUSD surpassing $1B in market cap within its first year. North America, leading in regulatory frameworks and institutional distribution, is at the center of it all.

More For You

A close below $67,300 for bitcoin would confirm six straight monthly losses amid ongoing macro pressures.

What to know:

• With a few hours to go in March, bitcoin is down around 1% for the month and on track to match a rare six-month losing streak on only one other occasion.
• In every prior bear market, bitcoin has fallen below its 200-week moving average and realized price; it has yet...

Mercado Libre shuts down Mercado Coin, ending its loyalty-driven crypto experiment

3 minutes ago

CoinDesk 20 performance update: Bitcoin Cash (BCH) gains 1.5% as index trades flat

1 hour ago

Chainalysis adds 'natural language' AI agents to its blockchain investigation platform

1 hour ago

Coinbase’s Base to focus on tokenized markets, stablecoins, developers this year

1 hour ago

Downside risk remains as bitcoin nears record-tying six-month losing streak

1 hour ago

Google warns five quantum attack paths could put $100 billion on Ethereum at risk

2 hours ago

Breaking Bitcoin with quantum may be easier than thought, with Taproot partly to blame, Google says

9 hours ago

Prediction markets backlash builds possible stormcloud for 2027

2 hours ago

Bearish sentiment builds in crypto as volatility and hedging rise

4 hours ago

David Bailey’s Nakamoto sells roughly 5% of its bitcoin holdings, offloading 284 BTC

5 hours ago

Quantum risk resurfaces at the worst time for bitcoin, but 1 token is loving it

3 hours ago

A quantum computer may need just 10,000 qubits to empty your crypto wallets, researchers say

3 hours ago