Bitfarms plunges 18% after plan to wind down Bitcoin mining ops

Published at 2025-11-14 04:05:19

Bitfarms announced a strategic shift to repurpose its Bitcoin mining facilities for AI compute over the next two years, starting with its major site in Washington. The company said it will wind down traditional Bitcoin mining operations at those locations as it converts infrastructure to support AI workloads, a move that sparked an immediate market reaction and roughly an 18% drop in the stock.

The pivot highlights growing pressure on miners to diversify amid energy, cost and market headwinds, and signals rising demand for dedicated AI power at existing data centers. For the crypto ecosystem, Bitfarms’ reduction of mining capacity could modestly affect supply-side dynamics for Bitcoin hash rate, while investors will be watching execution risks, energy contracts and regulatory responses as the transition unfolds.

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Texas and New Hampshire are among a growing number of U.S. states moving to add Bitcoin (BTC) to their balance sheets as Congress advances a federal crypto market structure bill. The actions signal rising state-level appetite for digital-asset exposure and could shape wider treasury practices.

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Samson Mow Says 10x Bitcoin Target Is 'Conservative'

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Hacker Steals $282M in Crypto Using Hardware Wallet Social‑Engineering Attack

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Riot Platforms Soars 11% After Bitcoin Sale Funds Texas Acquisition

Riot Platforms jumped roughly 11% after disclosing it sold more than $160 million in Bitcoin to finance a Texas data-center acquisition. The company says the move is part of a strategic shift to redeploy capital into expanding mining infrastructure.

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Nasdaq Warns Canaan as Shares Stay Below $1 Ahead of Delisting Deadline

Nasdaq has issued a delisting warning to Bitcoin miner Canaan after its shares remained under $1, putting the company close to a compliance deadline despite a recent hardware order and an October rally. The move raises risks for investors and could limit the firm's access to U.S. capital markets.