- Bitcoin miner Bitfarms is abandoning its core business, announcing a full wind-down of all Bitcoin mining operations by 2027 to pivot to AI/HPC infrastructure.
- The Market Reaction: The stock (BITF) crashed 18% to $2.60 on the news, extending its one-month collapse to over 51%.
- Bitfarms is now shifting to a “GPU-as-a-Service” model, starting with its 18-megawatt Washington site, as the AI compute market is projected to hit $200B.
Bitfarms, once known as one of North America’s most prominent Bitcoin miners, has announced a dramatic shift in strategy, shutting down its Bitcoin mining operations and pivoting fully into high‑performance computing (HPC) and artificial intelligence (AI) infrastructure.
The move, revealed alongside its latest earnings report, triggered a sharp sell‑off in the company’s stock, which tanked 18% on Thursday to $2.60, extending a month‑long collapse of more than 51%.
A Major Exit From Bitcoin Mining
The company confirmed it will wind down all Bitcoin mining activity through 2026 and 2027 after being in the business for nearly a decade. The decision was a result of increasing financial pressures and thin margins across the mining sector.
In Q3 2025, Bitfarms reported a net loss of $46 million, nearly double the $24 million loss posted in Q3 2024. Reasons include higher operating costs, reduced miner profitability after the Bitcoin halving, and declining BTC mining rewards.
The Washington Site: First Fully Converted AI Facility
Bitfarms’ 18‑megawatt site in Washington State will be the company’s flagship HPC/AI data center. Scheduled for completion in December 2026, the facility will feature up to 190 kW per rack, advanced liquid‑cooling systems, and validated designs optimized for Nvidia’s next‑generation GB300 GPUs.
A newly signed $128 million agreement with a major US infrastructure provider will fund hardware, materials, and buildout. The site is expected to achieve a leading PuE (Power Usage Effectiveness) between 1.2 and 1.3.
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The Washington site represents less than 1% of Bitfarms’ massive 2.1 GW portfolio of energized and developable energy assets, but the company believes its GPU‑as‑a‑Service model there could become a foundational revenue engine.
Why AI Instead of Bitcoin?
After the 2024 Bitcoin halving, the cost of mining a single BTC for the company soared to over $48,000. Meanwhile, the AI compute market is exploding, projected to attract more than $200 billion in investment this year alone.
AI training firms, data‑center operators, and enterprise cloud providers are searching for power, cooling, and rack‑dense infrastructure. These are areas where Bitcoin miners dominate. Several miners, including IREN and Core Scientific, have also begun shifting toward AI.
Related: Tether CEO Outlines 2025 Plan: Bitcoin Mining, AI, and US Regulatory Compliance for USDT
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