"Bitfarms, one of North America's largest Bitcoin miners, announced it will gradually wind down its mining operations over the next two years. The company plans to shift its focus to high-performance computing (HPC) and artificial intelligence (AI) infrastructure. The move reflects a broader trend among crypto miners. Falling Bitcoin prices and shrinking profit margins are pushing operators to explore more stable revenue streams."
"The company's Washington State facility will be its first fully converted site. The 18 MW mining farm will be retrofitted to support Nvidia GB300 GPUs with advanced liquid cooling. Bitfarms has secured a fully funded, $128 million deal with a major U.S.-based data center partner to supply all necessary equipment and building materials. Completion is targeted for December 2026."
""Despite being less than 1% of our total developable portfolio, we believe that the conversion of just our Washington site to GPU-as-a-Service could potentially produce more net operating income than we have ever generated with Bitcoin mining, providing the Company with a strong cashflow foundation that could fund opex, G&A, and debt service and contribute to capex as we wind down our Bitcoin mining business in 2026 and 2027," CEO Ben Gagnon said."
Bitfarms will gradually wind down Bitcoin mining over the next two years and shift to high-performance computing (HPC) and artificial intelligence (AI) infrastructure. Operations will target GPU-as-a-Service and cloud computing solutions. The Washington State facility will be the first fully converted site: an 18 MW farm retrofitted to support Nvidia GB300 GPUs with advanced liquid cooling. Bitfarms secured a fully funded $128 million deal with a U.S. data center partner to supply equipment and materials, with completion targeted for December 2026. The company reported a $46 million Q3 loss on $68 million revenue while shares have doubled year-to-date. Other miners are pursuing similar AI-ready data center conversions.
Read at Bitcoin Magazine
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