Bitfarms Rebrands as Keel Infrastructure, Pivots to AI and HPC Services

Bitfarms Ltd., a cryptocurrency mining company, has announced its plans to rebrand as Keel Infrastructure and pivot from crypto mining to artificial intelligence (AI) and high-performance computing (HPC) infrastructure services.

The company will sell $161 million worth of bitcoin to fund its growth plans, which include advancing a 2.2 GW digital infrastructure development pipeline across North America. Bitfarms has received shareholder approval for its re-domiciliation plan, which will see the company move from Toronto, Canada to the United States.

The rebranding is expected to be completed on April 1, with the company's shares rallying nearly 6% following news of the transition.