Bitfarm to Sell $161 Million in Bitcoin Holdings as It Transitions to High-Performance Computing

Bitfarm, a cryptocurrency miner, has announced plans to sell $161 million worth of Bitcoin holdings as part of its transition to focus on high-performance computing and artificial intelligence (AI) infrastructure.

The company will rebrand as Keel Infrastructure and relocate its headquarters to New York, with the new listing replacing existing listings on Nasdaq and the Toronto Stock Exchange.

Bitfarm's shift in strategy is aimed at capitalizing on the growing demand for AI-driven computing and data center services. The company has been investing heavily in its infrastructure, including power-secured data centers in Pennsylvania, Washington, and Quebec.