Bitfarms Plans to Gradually Sell Off Bitcoin Holdings, Pivot to AI

BlockBeats News, March 31, according to CoinDesk, Bitcoin mining firm Bitfarms continues to exit the Bitcoin business, confirming that it has started selling part of its holdings and plans to continue selling as it transitions to an artificial intelligence infrastructure. The company realized $28.2 million in revenue through Bitcoin sales in 2025. Although the company did not disclose the specific amount of Bitcoin sold, management has clearly stated that they will continue with subsequent sales. According to data from BitcoinTreasuries.net, Bitfarms currently holds 1,827 Bitcoins.

Bitfarms CEO Ben Gagnon said during Tuesday's fourth-quarter earnings conference call: "Over time, we will eventually no longer hold any Bitcoin." He added that Bitfarms will "opportunistically sell Bitcoin during market strength" and will continue to operate mining machines to "maximize free cash flow before selling the machines." This strategy indicates that the company is taking a gradual exit approach rather than an immediate liquidation.

The company is also undergoing a structural transformation, with shareholders approving the company's relocation to the United States and renaming it Keel Infrastructure (KEEL). The transaction is expected to be completed around April 1, 2026, at which time the company's stock will trade under the KEEL ticker symbol.