Well, slap my hash rate and call me a GPU! Bitfarms just announced it’s hanging up its Bitcoin mining pickaxe 🛠️ and diving headfirst into the AI pool. 🏊♂️ That’s right, folks, by 2026-2027, they’ll be all about those fancy high-performance computing (HPC) and AI data centers. Who needs BTC when you can have bots, am I right? 🤖
This genius move was unveiled alongside their Q3 2025 results, complete with a snazzy Washington-state conversion plan. 🗺️ Because nothing says “future” like retrofitting a 18 MW data center to house Nvidia GB300-class GPUs with liquid cooling. Brrr, it’s chilly in here! ❄️
What’s the Big Deal, You Ask?
Their Washington site is now the first AI facility-cue the confetti! 🎉 They’re dropping $128 million on equipment (cha-ching! 💰) and aiming for a PUE of 1.2-1.3. That’s efficiency, baby! Completion? December 2026. So, yeah, it’s a slow burn. 🔥
Oh, and did I mention their Q3 net loss of $46 million? Ouch. 😬 But hey, they’re strategically exiting Latin America, so there’s that. Adiós, Argentina and Paraguay! 🇦🇷🇵🇾
Management’s also bragging about $588 million in convertible notes and a $300 million project financing deal. Money, money, money! 💸 Plus, they’ve got 341 MW of energized capacity and a 2.1 GW energy portfolio. That’s a lot of juice! 🍋
Why the Switcheroo?
CEO Ben Gagnon says AI is their new jam 🎸 and that Washington could be a GPU-as-a-Service (GaaS) goldmine. 🏆 Apparently, it’ll rake in more dough than BTC mining ever did. Bitcoin who? ¯\_(ツ)_/¯
Stock Takes a Header, Bitcoin Shrugs
BITF shares? Down faster than a miner’s hopes after a halving. 📉 Traders are freaking out over the capex plans and missed consensus. Yikes! 😱
Bitfarm Shares plunge | Source: Google Finance
Bitcoin’s not doing much better, hovering around $97k-$101k. Macro pressure? More like macro meh. 🤷♂️
Bitcoin drops to $97k | Source: CoinMarketcap
Crypto Miners: AI’s New BFFs
Bitfarms isn’t alone in this AI frenzy. Marathon (MARA) is dabbling in AI and energy, Hut 8 launched a GPU-as-a-Service line, and IREN signed AI cloud contracts for 23k GPUs. But Bitfarms? They’re the first to put an expiration date on their mining days. Bold move, Cotton. Let’s see if it pays off. 🎲
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2025-11-14 11:36