Bitfarms (BITF) is winding down its bitcoin mining operations, in favor of focusing on high-performance compute/artificial intelligence infrastructure, it said on Thursday. The announcement when it said it’s converting its Washington site to support HPC/AI workloads.
“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 in a statement.
Bitfarms (BITF) stock dropped 11% in Thursday midmorning trading. The company also posted a bigger-than-expected loss in Q3 2025 amid the strategy shift.