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The Canadian cryptomining company Bitfarms has announced drastic changes in its business model. As part of the new strategy, which involves rebranding to Keel Infrastructure and relocating its headquarters to the United States, the company intends to refocus its activities from accumulating bitcoins to developing infrastructure for artificial intelligence (AI) and high-performance computing (HPC).

The head of Bitfarms, Ben Gagnon, announced plans to sell off the entire existing stock of bitcoins. At the end of March, the company owned approximately 2,400 BTC, estimated at about $160 million. Some of these assets have already been sold in 2025, bringing in $28.2 million. The proceeds will be used to finance AI and HPC projects, including the construction of new data centers.

Bitfarms has no plans to immediately shut down its mining operations. As Gagnon noted, this process will be gradual, designed to maintain operational stability. The company's main focus is now shifting to infrastructure projects, which, according to management, offer more predictable long-term returns.

The relocation of the central office to the United States, according to the company's statement, is designed to facilitate cooperation with partners and accelerate entry into new markets. Bitfarms has already selected locations for the construction of data centers with a total capacity of 2.2 GW in Pennsylvania, Washington and Quebec. The company is expected to start receiving its first AI revenues in 2027.

Bitfarms is not the only representative of the crypto industry showing interest in AI, however, it is one of the few companies undertaking such a deep structural reorganization. The sale of bitcoins, the name change to Keel Infrastructure, and the move to the United States underscore the company's desire to take a strong position in the field of high-performance computing.