Bitfarms to Wind Down Bitcoin Mining, Pivot to AI and HPC Over Two Years
Bitfarms said it will gradually exit Bitcoin mining over a two-year timeframe to focus on AI and high-performance computing technologies. Management framed the shift as a response to changing market economics and demand for compute-heavy services; the company plans to repurpose power-constrained facilities and invest in infrastructure better suited to AI/HPC workloads rather than ASIC-based Bitcoin rigs. This marks a notable strategic pivot for a public miner and reflects broader interest among operators in diversifying revenue streams.
The decision matters because any meaningful reduction in active mining capacity can influence network hashrate distribution and the competitive landscape among remaining miners, though immediate effects on BTC price are uncertain. For investors and customers, the execution risk will center on successfully converting sites and securing AI/HPC customers while managing capital expenditure and workforce transitions. Market observers will watch how quickly Bitfarms can retool assets and whether other miners follow suit.