Bitfarms Shares Soar Despite Net Loss Amid AI Transition

Bitfarms (BITF) experienced a 6.6% increase in share price on Tuesday despite reporting a widened net loss of $284.5 million for 2025. This loss was primarily attributed to declining Bitcoin prices and increased costs. However, the company’s revenue increased by 72% year-on-year to $229 million, though it was offset by a significant cost of revenue. Bitfarms is strategically transitioning away from Bitcoin mining and focusing on high-performance computing (HPC) and AI data centers, with plans to rebrand as Keel Infrastructure and move its legal base to the US. CEO Ben Gagnon stated the company is building a new business focused on powering AI infrastructure. Despite still holding $161 million in Bitcoin, Bitfarms aims to become a key infrastructure provider for hyperscalers and neoclouds, developing a 2.2 gigawatt digital infrastructure pipeline across North America. Several other Bitcoin miners, including Iris Energy, Cipher Mining, Riot Platforms, and MARA Holdings, are also expanding into the AI sector.

(Source：Cointelegraph)