Bitcoin Miner Bitfarms (BITF) to Exit Bitcoin Mining, Pivot to AI Computing
Bitfarms will gradually cease Bitcoin mining over two years to pivot its focus to high-performance computing and AI infrastructure.Summary
Bitfarms, a major North American Bitcoin miner, announced plans to gradually wind down its mining operations over the next two years, shifting its focus entirely to high-performance computing (HPC) and artificial intelligence (AI) infrastructure. This strategic pivot is driven by falling Bitcoin prices and shrinking profit margins, mirroring a broader industry trend. The company's 18 MW Washington State facility will be the first site converted, retrofitted to support Nvidia GB300 GPUs with advanced liquid cooling, funded by a $128 million deal with a U.S. data center partner, targeting completion by December 2026. CEO Ben Gagnon stated that converting just the Washington site to GPU-as-a-Service could potentially generate more net operating income than Bitcoin mining ever did, providing a strong cash flow foundation. Other miners like Cipher and Terawulf are pursuing similar AI ventures. This move follows a challenging financial period for Bitfarms, which reported a $46 million loss in the third quarter, though its stock has doubled this year.
(Source：Bitcoin Magazine)