A Major Strategic Shift

Bitfarms, a long-standing company in the cryptocurrency mining industry, has announced a fundamental change in its business strategy, pivoting away from Bitcoin (BTC) to focus on the burgeoning fields of Artificial Intelligence (AI) and High-Performance Computing (HPC). The news triggered a significant drop in the company’s stock price as investors reacted to the unexpected move.

The Transition Plan

The company outlined a multi-year plan to transition its operations. Bitfarms intends to gradually wind down its Bitcoin mining activities with a target to fully exit the sector by 2027. This marks a decisive departure from the business model that has defined the company for years.

As its first major step into the new sector, Bitfarms is developing a new site in Washington. This facility is being purpose-built to support the intense demands of AI and HPC workloads and is designed to be “GB300-ready,” indicating its capacity to house NVIDIA’s next-generation AI superchips. This move signals a serious investment in capturing a share of the high-growth AI infrastructure market.