Markets
What to know, dear reader:
- Bitfarms (BITF), once a stalwart of the bitcoin realm, now finds itself in a most unbecoming position-selling its digital treasures like a socialite liquidating last season’s gowns. By 2025, it still clings to 1,827 coins, though one suspects they’ll be gone faster than a wit at a dull dinner party.
- In a move as dramatic as a Wildean protagonist’s fall from grace, the company pivots to a 2.2 GW AI and HPC data center pipeline. Alongside this, a U.S. re-domiciliation and a rebrand to Keel Infrastructure-because nothing says “new beginnings” like a fresh moniker and a transatlantic move.
Ah, Bitfarms, the once-proud bitcoin miner, now shedding its digital skin like a serpent in search of more lucrative pastures. The company, it seems, has grown weary of the fickle nature of cryptocurrency and has decided to embrace the siren call of AI infrastructure. How très moderne! In 2025, it raked in a modest $28.2 million from bitcoin sales-a sum that, while not insignificant, hardly warrants a toast with the finest champagne. Yet, the company presses on, its CEO Ben Gagnon declaring with all the gravitas of a man abandoning a sinking ship, “In time, we will have no bitcoin.” One can almost hear the collective gasp of the crypto faithful.
The approach, we are told, is a gradual wind-down, not an immediate liquidation. How considerate! One imagines the miners, still humming away, their days numbered like the last pages of a forgotten novel. The shift, of course, is part of a broader trend-bitcoin miners repurposing their energy infrastructure for AI workloads. How delightfully utilitarian! Bitfarms, ever the trendsetter, aims to begin its AI-driven revenue stream in 2027. Until then, one supposes, it shall content itself with selling its remaining coins “opportunistically into strength.” How very Wildean-to turn even financial strategy into a matter of aesthetic choice.
And what of the company’s structural metamorphosis? Shareholders have approved a U.S. re-domiciliation and a rebrand to Keel Infrastructure (KEEL), expected to close around April 1, 2026. Ah, April Fool’s Day-how fitting for a company shedding its old identity like a poorly tailored suit. Shares, naturally, will trade under the ticker KEEL, because nothing says “stability” like a nautical reference in the tempestuous seas of tech.
BITF shares, we are informed, are up 4.6% on Tuesday, riding the coattails of a general rally in AI infrastructure stocks. How quaint! One wonders if the market, like a fickle lover, will remain enamored or if this too shall pass. But for now, Bitfarms sails on, its bitcoin days behind it, its AI dreams ahead. Will it find success, or shall it become another cautionary tale? Only time, dear reader, will tell.
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2026-03-31 17:41