Bitcoin miner Bitfarms (BITF) has started selling its bitcoin holdings as it moves toward building AI-focused infrastructure.
The company is following a trend in the crypto mining industry, where firms are transforming energy-heavy mining operations into systems that can support artificial intelligence and high-performance computing.
Strong Gains From Bitcoin Sales
In 2025, Bitfarms earned $28.2 million from selling parts of its bitcoin holdings, showing it is actively reducing its bitcoin assets. The company hasn’t shared the exact number of coins sold, but management confirmed more sales are planned.
Currently, Bitfarms still holds 1,827 BTC, with the goal of eventually exiting the bitcoin market completely. CEO Ben Gagnon said in the fourth-quarter earnings call, “In time, we will have no bitcoin.”
He explained that the company will sell bitcoin strategically when prices are strong and continue mining operations to generate cash, gradually winding down its mining activities rather than selling everything at once.
Gradual Transition, Not a Sudden Exit
Bitfarms is taking a careful and planned approach to exit the bitcoin business, rather than selling all its holdings at once. This strategy allows the company to keep earning revenue from its current mining operations while slowly shifting its focus to AI infrastructure.
By not rushing the process, Bitfarms can make the most of its existing resources and market opportunities.
This change is part of a larger trend in the bitcoin mining industry, where many companies are moving toward artificial intelligence and high-performance computing. They are using their energy and equipment in new ways to build more profitable and sustainable technology businesses.
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AI Infrastructure at the Core
Bitfarms is shifting its focus from bitcoin mining to AI infrastructure, investing heavily in building a 2.2-gigawatt energy pipeline across North America. This new direction will allow the company to support large-scale computing tasks needed for artificial intelligence applications.
By 2027, Bitfarms plans to start generating revenue specifically from AI operations, creating a new income stream beyond cryptocurrency. This change shows the company’s vision for the future, moving from traditional bitcoin mining to advanced technology solutions.
With this approach, Bitfarms is positioning itself as a modern tech company, combining its experience in large-scale computing with the growing demand for AI-powered services.
Financial Performance Highlights
For last year 2025, Bitfarms reported a 72% increase in revenue, reaching $229 million. However, the company also faced a significant net loss of $209 million, compared to just $7 million the previous year.
The loss was largely driven by increased operating expenses and impairment charges, resulting in a gross profit margin of 4.61%. Despite these challenges, the company maintains a strong liquidity position, with $520 million in cash and Bitcoin.
Analysts note that while the stock has experienced volatility trading at $1.84 with a beta of 4.09. it may currently be undervalued relative to its fair value, highlighting potential upside as the AI pivot progresses.
Corporate Restructuring and Rebranding
Bitfarms is making major changes as it moves from bitcoin mining to AI infrastructure. Shareholders have approved a U.S. re-domiciliation and a rebrand to Keel Infrastructure (KEEL), expected to complete by April 1, 2026, with shares trading under the new ticker.
These steps aim to strengthen the company’s position in the growing AI market and show its focus on long-term growth and innovation.
The market responded positively, with BITF shares rising 4.6%, reflecting investor confidence. Bitfarms’ gradual exit from bitcoin, along with repurposing mining operations for AI, ensures sustainable profitability and allows the company to maximize returns while investing in future technology.
